SilverCrest Metals (NYSEAMERICAN:SILV) Stock Price Down 2.9%

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) fell 2.9% on Wednesday . The stock traded as low as $9.24 and last traded at $9.27. 252,954 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,519,241 shares. The stock had previously closed at $9.55.

SilverCrest Metals Stock Performance

The company has a market cap of $1.37 billion, a price-to-earnings ratio of 12.24 and a beta of 1.22.

SilverCrest Metals (NYSEAMERICAN:SILV) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.13). SilverCrest Metals had a return on equity of 33.11% and a net margin of 47.62%. The business had revenue of $72.74 million during the quarter. Equities analysts expect that SilverCrest Metals Inc. will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in shares of SilverCrest Metals during the fourth quarter worth approximately $86,000. Principal Securities Inc. acquired a new stake in shares of SilverCrest Metals during the fourth quarter worth approximately $33,000. Finally, CIBC Asset Management Inc increased its holdings in shares of SilverCrest Metals by 1.7% during the fourth quarter. CIBC Asset Management Inc now owns 189,825 shares of the company’s stock worth $1,249,000 after buying an additional 3,186 shares in the last quarter. Institutional investors and hedge funds own 44.75% of the company’s stock.

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.