Condire Management LP recently announced the acquisition of new stake in Gatos Silver Inc (NYSE:GATO). The institutional investor has increased its shareholding in the Basic Materials company by 959.14% to 5.67 million shares with purchase of 5.14 million shares. This fresh investment now brings its stake to 8.21% valued currently at $35.92 million. In addition, Sprott Asset Management LP raised its holdings by 81076.0 to 3.21 million shares. And Van Eck Associates Corp. has lifted its position by 0.69% or 11884.0 shares – to 1.73 million shares.
With over 0.44 million Gatos Silver Inc (GATO) shares trading Friday and a closing price of $6.87 on the day, the dollar volume was approximately $3.04 million. The shares have shown a positive half year performance of 80.31% and its price on 12/22/23 gained nearly 0.15%. Currently, there are 69.16M common shares owned by the public and among those 45.82M shares have been available to trade.
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Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 1,174,532 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Gatos Silver Inc are Fidelity Select Port. – Gold Port, ETFMG Prime Junior Silver ETF, and Sprott Gold Equity Fund. Fidelity Select Port. – Gold Port owns 2.78 million shares of the company’s stock, all valued at over $17.58 million. The company sold -2.05 million shares recently to bring their total holdings to about 4.01% of the shares outstanding. Sprott Gold Equity Fund now owns shares totaling to 2.59% of the shares outstanding.
Shares of Gatos Silver Inc (NYSE: GATO) opened at $7.00, up $0.14 from a prior closing price of $6.86. However, the script later moved the day high at 7.37, up 0.15%. The company’s stock has a 5-day price change of 4.89% and 22.46% over the past three months. GATO shares are trading 67.97% year to date (YTD), with the 12-month market performance up to 74.81% higher. It has a 12-month low price of $3.51 and touched a high of $7.49 over the same period. GATO has an average intraday trading volume of 355.37K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.20%, 24.03%, and 32.56% respectively.
Institutional ownership of Gatos Silver Inc (NYSE: GATO) shares accounts for 49.26% of the company’s 69.16M shares outstanding. Mutual fund holders own 28.18%, while other institutional holders and individual stakeholders account for 34.26% and 21.11% respectively.
It has a market capitalization of $475.13M and a beta (3y monthly) value of 2.24. The earnings-per-share (ttm) stands at -$0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.74% over the week and 5.10% over the month.
Analysts forecast that Gatos Silver Inc (GATO) will achieve an EPS of $Atmos Energy Corporation for the current quarter, $114.91 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $SATO while analysts give the company a high EPS estimate of $Cato Corporation (The). Comparatively, EPS for the current quarter was $Gatos Silver, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -74.52%, and 108.37% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Gatos Silver Inc (GATO) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GATO, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on December 01, 2023, with the firm’s price target at $6.25.
