SilverCrest Metals (NYSE:SILV) Shares Gap Up – What’s Next?

by · The Markets Daily

SilverCrest Metals Inc. (NYSE:SILV – Get Free Report)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.13, but opened at $11.64. SilverCrest Metals shares last traded at $11.72, with a volume of 582,380 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SILV shares. Scotiabank lifted their price target on SilverCrest Metals from $8.50 to $9.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Ventum Cap Mkts cut shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th.

Read Our Latest Research Report on SILV

SilverCrest Metals Stock Performance

The company has a market cap of $1.73 billion, a P/E ratio of 14.04 and a beta of 1.23. The company has a 50 day moving average of $9.20.

SilverCrest Metals (NYSE:SILV – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.13). SilverCrest Metals had a return on equity of 25.66% and a net margin of 40.61%. The company had revenue of $72.74 million during the quarter. As a group, sell-side analysts predict that SilverCrest Metals Inc. will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SilverCrest Metals

A number of institutional investors have recently made changes to their positions in SILV. Mather Group LLC. bought a new position in SilverCrest Metals in the 2nd quarter valued at approximately $28,000. Toronto Dominion Bank lifted its holdings in shares of SilverCrest Metals by 40.7% during the second quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock valued at $35,000 after purchasing an additional 1,225 shares in the last quarter. Blue Trust Inc. increased its holdings in SilverCrest Metals by 194.1% in the 3rd quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock worth $47,000 after buying an additional 3,379 shares in the last quarter. Perritt Capital Management Inc. purchased a new position in SilverCrest Metals in the 1st quarter worth about $52,000. Finally, Eastern Bank bought a new position in SilverCrest Metals during the 3rd quarter valued at about $88,000. Hedge funds and other institutional investors own 44.75% of the company’s stock.

SilverCrest Metals Company Profile

(Get Free Report)

SilverCrest Metals Inc engages in the acquiring, exploration, and development of precious metal properties in Mexico. The company primarily explores for silver and gold properties. Its focuses on principal property the Las Chispas Mine that consists of 28 concessions totaling of approximately 1,401 hectares located in Sonora, Mexico, as well as operates a portfolio of El Picacho, Cruz de Mayo, and Angel de Plata properties in Sonora Mexico.

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