SilverCrest Metals (NYSE:SILV) Hits New 12-Month High – Here’s Why

SilverCrest Metals Inc. (NYSE:SILV)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $10.27 and last traded at $10.18, with a volume of 2435646 shares trading hands. The stock had previously closed at $9.29.

Wall Street Analysts Forecast Growth

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

SilverCrest Metals Trading Up 8.6 %

The company has a fifty day simple moving average of $8.74. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.27 and a beta of 1.23.

SilverCrest Metals (NYSE:SILV) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). SilverCrest Metals had a return on equity of 25.66% and a net margin of 40.61%. The firm had revenue of $72.74 million for the quarter. On average, equities research analysts expect that SilverCrest Metals Inc. will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On SilverCrest Metals

Several hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in SilverCrest Metals during the 2nd quarter worth $28,000. Toronto Dominion Bank boosted its position in SilverCrest Metals by 40.7% during the second 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 last quarter. Perritt Capital Management Inc. purchased a new stake in SilverCrest Metals during the 1st quarter valued at about $52,000. Fermata Advisors LLC acquired a new stake in SilverCrest Metals in the 2nd quarter valued at about $99,000. Finally, Cambridge Trust Co. lifted its stake in SilverCrest Metals by 225.5% in the 1st quarter. Cambridge Trust Co. now owns 28,257 shares of the company’s stock worth $188,000 after purchasing an additional 19,577 shares in the last quarter. 44.75% of the stock is owned by hedge funds and other 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.