SilverCrest Metals (NYSE:SILV) Shares Gap Down – Here’s Why

by · The Markets Daily

SilverCrest Metals Inc. (NYSE:SILV – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $9.66, but opened at $8.82. SilverCrest Metals shares last traded at $9.19, with a volume of 622,067 shares changing hands.

Analyst Ratings Changes

SILV has been the subject of several analyst reports. Scotiabank raised their price target on shares of 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 SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th.

Get Our Latest Stock Analysis on SILV

SilverCrest Metals Price Performance

The company has a market capitalization of $1.38 billion, a PE ratio of 13.10 and a beta of 1.21. The company’s fifty day moving average is $9.60.

SilverCrest Metals (NYSE:SILV – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. The firm had revenue of $72.74 million for the quarter. As a group, equities research analysts predict that SilverCrest Metals Inc. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On SilverCrest Metals

A number of large investors have recently made changes to their positions in SILV. Mather Group LLC. purchased a new stake in shares of SilverCrest Metals in the 2nd quarter worth $28,000. Toronto Dominion Bank raised its stake in SilverCrest Metals by 40.7% during the 2nd quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock worth $35,000 after acquiring an additional 1,225 shares during the period. Blue Trust Inc. lifted its holdings in SilverCrest Metals by 194.1% during the third quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock valued at $47,000 after purchasing an additional 3,379 shares in the last quarter. Perritt Capital Management Inc. bought a new position in shares of SilverCrest Metals in the first quarter worth approximately $52,000. Finally, Eastern Bank purchased a new stake in shares of SilverCrest Metals in the third quarter worth $88,000. 44.75% of the stock is currently owned by institutional investors.

About SilverCrest Metals

(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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