Fmr LLC Sells 858,392 Shares of Gatos Silver, Inc. (NYSE:GATO)

FMR LLC lowered its position in Gatos Silver, Inc. (NYSE:GATO - Free Report) by 50.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 847,712 shares of the company's stock after selling 858,392 shares during the quarter. FMR LLC owned approximately 1.22% of Gatos Silver worth $12,783,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GATO. U S Global Investors Inc. bought a new position in shares of Gatos Silver in the second quarter valued at about $940,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company's stock valued at $73,000 after purchasing an additional 6,994 shares during the period. Arizona State Retirement System bought a new position in shares of Gatos Silver in the second quarter valued at about $121,000. ClariVest Asset Management LLC raised its position in shares of Gatos Silver by 23.0% in the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company's stock valued at $2,592,000 after purchasing an additional 46,407 shares during the period. Finally, American Century Companies Inc. increased its position in Gatos Silver by 17.3% during the second quarter. American Century Companies Inc. now owns 84,930 shares of the company's stock worth $887,000 after acquiring an additional 12,522 shares during the period. Institutional investors and hedge funds own 44.81% of the company's stock.

Gatos Silver Stock Performance

Shares of GATO traded down $1.30 during mid-day trading on Thursday, reaching $15.61. The company had a trading volume of 234,028 shares, compared to its average volume of 588,232. The company's 50 day simple moving average is $16.78 and its 200 day simple moving average is $13.95. Gatos Silver, Inc. has a 1-year low of $5.42 and a 1-year high of $20.31. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 34.51 and a beta of 1.93.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GATO shares. Royal Bank of Canada raised their price target on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 10th. CIBC raised their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a research report on Thursday, September 26th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. 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 analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $12.90.

About Gatos Silver

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.