SilverCrest Metals (NYSEAMERICAN:SILV) Shares Gap Up – Here’s Why

SilverCrest Metals Inc. (NYSEAMERICAN:SILV)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.29, but opened at $10.18. SilverCrest Metals shares last traded at $10.01, with a volume of 3,240,615 shares changing hands.

SilverCrest Metals Stock Up 11.8 %

The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 11.91 and a beta of 1.22.

SilverCrest Metals (NYSEAMERICAN:SILV) last released its 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 return on equity of 33.11% and a net margin of 47.62%. The business had revenue of $72.74 million during the quarter. On average, analysts forecast that SilverCrest Metals Inc. will post 0.54 earnings per share for the current year.

Institutional Investors Weigh In On SilverCrest Metals

A hedge fund recently raised its stake in SilverCrest Metals stock. CIBC Asset Management Inc boosted its holdings in shares of SilverCrest Metals Inc. (NYSEAMERICAN:SILV) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 189,825 shares of the company’s stock after buying an additional 3,186 shares during the quarter. CIBC Asset Management Inc owned 0.13% of SilverCrest Metals worth $1,249,000 at the end of the most recent reporting period. 44.75% of the stock is owned by institutional investors.

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.