707,942 Shares in Gatos Silver, Inc. (NYSE:GATO) Acquired by Citigroup Inc.

Citigroup Inc. bought a new stake in shares of Gatos Silver, Inc. (NYSE:GATO) during the third quarter, HoldingsChannel reports. The fund bought 707,942 shares of the company’s stock, valued at approximately $10,676,000.

Several other hedge funds also recently bought and sold shares of GATO. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Gatos Silver during the first quarter valued at $196,000. U S Global Investors Inc. acquired a new stake in shares of Gatos Silver during the 2nd quarter worth about $940,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 buying an additional 6,994 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Gatos Silver in the second quarter valued at approximately $121,000. Finally, ClariVest Asset Management LLC lifted its stake in shares of Gatos Silver by 23.0% during the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after buying an additional 46,407 shares during the period. Hedge funds and other institutional investors own 44.81% of the company’s stock.

Gatos Silver Price Performance

NYSE GATO opened at $15.42 on Friday. Gatos Silver, Inc. has a 1-year low of $5.42 and a 1-year high of $20.31. The firm has a market capitalization of $1.07 billion, a P/E ratio of 31.47 and a beta of 2.05. The business’s 50-day simple moving average is $16.76 and its 200-day simple moving average is $13.65.

Analysts Set New Price Targets

GATO has been the subject of several analyst reports. Royal Bank of Canada boosted their price target on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. CIBC lifted their price target on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Finally, Canaccord Genuity Group lowered shares of Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Gatos Silver presently has a consensus rating of “Hold” and a consensus target price of $12.90.

Gatos Silver 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.