Arizona State Retirement System Acquires New Shares in Gatos Silver, Inc. (NYSE:GATO)

Arizona State Retirement System acquired a new position in shares of Gatos Silver, Inc. (NYSE:GATO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,619 shares of the company’s stock, valued at approximately $121,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Gatos Silver by 23,313.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after purchasing an additional 6,994 shares during the period. U S Global Investors Inc. acquired a new stake in Gatos Silver during the 2nd quarter worth approximately $940,000. Tidal Investments LLC bought a new position in Gatos Silver in the first quarter valued at approximately $17,397,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Gatos Silver in the first quarter valued at approximately $196,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gatos Silver by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock worth $10,845,000 after acquiring an additional 80,889 shares in the last quarter. 44.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GATO shares. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, CIBC decreased their price objective on Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating for the company in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.40.

Gatos Silver Stock Down 3.8 %

GATO stock opened at $14.76 on Thursday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 67.09 and a beta of 2.09. Gatos Silver, Inc. has a twelve month low of $4.39 and a twelve month high of $15.95. The business has a 50 day moving average price of $12.57 and a two-hundred day moving average price of $10.93.

Gatos Silver (NYSE:GATO) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Gatos Silver Company Profile

Gatos Silver, Inc engages in the exploration, development, and production of precious metals. It primarily explores for silver deposits. The company also explores for zinc, lead, copper, and gold ores. Its flagship asset is the Los Gatos District, including the Cerro Los Gatos mine in Chihuahua, Mexico.