K2 Principal Fund L.P. Takes Position in Gatos Silver, Inc. (NYSE:GATO)

K2 Principal Fund L.P. bought a new stake in Gatos Silver, Inc. (NYSE:GATO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 135,060 shares of the company's stock, valued at approximately $2,037,000. K2 Principal Fund L.P. owned 0.19% of Gatos Silver as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GATO. Versor Investments LP acquired a new stake in Gatos Silver in the third quarter valued at about $2,953,000. Alpha DNA Investment Management LLC acquired a new stake in shares of Gatos Silver in the 2nd quarter valued at approximately $404,000. Citigroup Inc. acquired a new stake in shares of Gatos Silver in the 3rd quarter valued at approximately $10,676,000. Dimensional Fund Advisors LP grew its holdings in shares of Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company's stock valued at $9,853,000 after purchasing an additional 146,462 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its position in Gatos Silver by 23.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company's stock worth $2,592,000 after purchasing an additional 46,407 shares in the last quarter. 44.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Canaccord Genuity Group cut Gatos Silver from a "buy" rating to a "hold" rating in a 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 research note on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on Gatos Silver from $11.00 to $13.00 and gave the company a "sector perform" rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $12.90.

Gatos Silver Stock Down 2.0 %

Shares of NYSE GATO traded down $0.32 during trading on Friday, reaching $15.34. The company had a trading volume of 278,830 shares, compared to its average volume of 985,699. Gatos Silver, Inc. has a 12 month low of $5.42 and a 12 month high of $20.31. The stock has a market cap of $1.07 billion, a P/E ratio of 31.31 and a beta of 1.93. The company's fifty day moving average price is $16.72 and its 200-day moving average price is $13.85.

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.