Allspring Global Investments Holdings LLC Decreases Stake in SilverCrest Metals Inc. (NYSE:SILV)

Allspring Global Investments Holdings LLC lessened its holdings in SilverCrest Metals Inc. (NYSE:SILV) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 292,900 shares of the company’s stock after selling 9,100 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SilverCrest Metals were worth $2,720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mather Group LLC. acquired a new position in shares of SilverCrest Metals in the 2nd quarter valued at $28,000. Toronto Dominion Bank raised its stake in shares of 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 purchasing an additional 1,225 shares during the last quarter. Blue Trust Inc. raised its stake in shares of SilverCrest Metals by 194.1% during the third quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock worth $47,000 after purchasing an additional 3,379 shares during the last quarter. Perritt Capital Management Inc. purchased a new position in SilverCrest Metals during the 1st quarter worth $52,000. Finally, Fermata Advisors LLC purchased a new stake in SilverCrest Metals in the 2nd quarter valued at approximately $99,000. 44.75% of the stock is currently owned by institutional investors and hedge funds.

SilverCrest Metals Stock Performance

SILV stock opened at $11.00 on Wednesday. The firm has a market cap of $1.64 billion, a P/E ratio of 15.49 and a beta of 1.23. The firm’s 50 day moving average is $9.45. SilverCrest Metals Inc. has a 12-month low of $4.79 and a 12-month high of $11.91.

SilverCrest Metals (NYSE:SILV) last posted its 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 during the quarter. As a group, equities research analysts expect that SilverCrest Metals Inc. will post 0.59 earnings per share for the current year.

Analyst Ratings Changes

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