SilverCrest Metals (NYSE:SILV) Trading Down 2.9%

SilverCrest Metals Inc. (NYSE:SILV)’s share price traded down 2.9% during mid-day trading on Friday . The stock traded as low as $9.91 and last traded at $9.92. 328,618 shares changed hands during trading, a decline of 78% from the average session volume of 1,523,547 shares. The stock had previously closed at $10.22.

Analysts Set New Price Targets

Separately, Scotiabank increased their target price on shares of SilverCrest Metals from $8.50 to $9.00 and gave the company a “sector perform” rating in a report on Monday, August 19th.

SilverCrest Metals Stock Down 4.4 %

The company’s 50-day moving average price is $8.73. The stock has a market capitalization of $1.45 billion, a P/E ratio of 12.30 and a beta of 1.22.

SilverCrest Metals (NYSE:SILV) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that SilverCrest Metals Inc. will post 0.64 EPS for the current fiscal year.

Institutional Trading of SilverCrest Metals

A number of large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its stake in shares of SilverCrest Metals by 5,624.4% in the first quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock worth $28,991,000 after purchasing an additional 4,276,888 shares in the last quarter. Mackenzie Financial Corp grew its stake in SilverCrest Metals by 137.4% during the second quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock valued at $20,516,000 after acquiring an additional 1,452,622 shares in the last quarter. TD Asset Management Inc grew its stake in SilverCrest Metals by 16.4% during the second quarter. TD Asset Management Inc now owns 2,113,126 shares of the company’s stock valued at $17,265,000 after acquiring an additional 297,365 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in SilverCrest Metals by 22.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,414,499 shares of the company’s stock valued at $11,529,000 after acquiring an additional 262,568 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in SilverCrest Metals by 12.1% during the second quarter. National Bank of Canada FI now owns 452,013 shares of the company’s stock valued at $3,614,000 after acquiring an additional 48,717 shares in the last quarter. Hedge funds and other institutional investors own 44.75% of the company’s stock.

SilverCrest Metals Company Profile

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.