Alpine Associates Management Inc. Purchases Shares of 1,327,472 Gatos Silver, Inc. (NYSE:GATO)

Alpine Associates Management Inc. purchased a new position in shares of Gatos Silver, Inc. (NYSE:GATO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,327,472 shares of the company's stock, valued at approximately $20,018,000. Alpine Associates Management Inc. owned approximately 1.91% of Gatos Silver as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GATO. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company's stock worth $73,000 after acquiring an additional 6,994 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Gatos Silver during the 2nd quarter worth $112,000. Arizona State Retirement System acquired a new position in shares of Gatos Silver during the second quarter worth $121,000. Squarepoint Ops LLC acquired a new stake in Gatos Silver in the second quarter valued at $185,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Gatos Silver during the 1st quarter worth about $196,000. 44.81% of the stock is owned by institutional investors and hedge funds.

Gatos Silver Price Performance

Shares of NYSE:GATO traded down $0.33 during trading on Wednesday, reaching $16.43. The company had a trading volume of 317,458 shares, compared to its average volume of 599,070. Gatos Silver, Inc. has a fifty-two week low of $5.42 and a fifty-two week high of $20.31. The stock's fifty day moving average price is $16.64 and its 200 day moving average price is $13.45. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 34.27 and a beta of 2.05.

Wall Street Analyst Weigh In

GATO has been the subject of several recent analyst reports. Canaccord Genuity Group downgraded shares of Gatos Silver from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on Gatos Silver from $11.00 to $13.00 and gave the stock a "sector perform" rating in a report on Tuesday, September 10th. Canaccord Genuity Group reissued a "hold" rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Finally, CIBC raised their price target on Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.90.

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.