SilverCrest Metals (NYSEAMERICAN:SILV) Stock Price Up 3.2%

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) was up 3.2% on Wednesday . The company traded as high as $7.19 and last traded at $7.17. Approximately 408,806 shares changed hands during trading, a decline of 72% from the average daily volume of 1,438,809 shares. The stock had previously closed at $6.95.

Analyst Ratings Changes

A number of research firms have weighed in on SILV. Desjardins downgraded SilverCrest Metals from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Scotiabank raised their target price on SilverCrest Metals from $7.00 to $7.50 and gave the company a “sector outperform” rating in a research note on Monday, April 8th.

SilverCrest Metals Price Performance

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 8.93 and a beta of 1.32.

SilverCrest Metals (NYSEAMERICAN:SILV) last released its quarterly earnings results on Monday, March 11th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. SilverCrest Metals had a net margin of 47.62% and a return on equity of 33.11%. The business had revenue of $61.32 million for the quarter. On average, sell-side analysts predict that SilverCrest Metals Inc. will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Triasima Portfolio Management inc. bought a new position in SilverCrest Metals in the 4th quarter worth approximately $1,440,000. Sprott Inc. increased its position in SilverCrest Metals by 8.4% during the third quarter. Sprott Inc. now owns 9,347,721 shares of the company’s stock worth $44,618,000 after acquiring an additional 722,417 shares during the period. Cutler Group LLC CA raised its stake in SilverCrest Metals by 63.8% during the 4th quarter. Cutler Group LLC CA now owns 22,545 shares of the company’s stock valued at $147,000 after purchasing an additional 8,785 shares during the last quarter. U S Global Investors Inc. raised its position in shares of SilverCrest Metals by 418.2% during the fourth quarter. U S Global Investors Inc. now owns 285,000 shares of the company’s stock valued at $1,870,000 after buying an additional 230,000 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of SilverCrest Metals by 0.9% in the 3rd quarter. Invesco Ltd. now owns 4,732,026 shares of the company’s stock worth $20,868,000 after acquiring an additional 42,589 shares during the period. 44.75% of the stock is currently owned by institutional investors and hedge funds.

About SilverCrest Metals

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.