Investors Purchase High Volume of Call Options on SilverCrest Metals (NYSE:SILV)

SilverCrest Metals Inc. (NYSE:SILV) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 5,745 call options on the company. This represents an increase of approximately 168% compared to the typical daily volume of 2,142 call options.

SilverCrest Metals Stock Down 2.3 %

SilverCrest Metals stock opened at $11.28 on Friday. SilverCrest Metals has a 12-month low of $4.79 and a 12-month high of $11.91. The company’s fifty day moving average is $9.27. The firm has a market cap of $1.68 billion, a P/E ratio of 15.89 and a beta of 1.23.

SilverCrest Metals (NYSE:SILV) last released its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) 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 company had revenue of $72.74 million for the quarter. On average, analysts anticipate that SilverCrest Metals will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SILV has been the topic of a number of recent analyst reports. Scotiabank boosted their price target on shares of SilverCrest Metals from $8.50 to $9.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Ventum Cap Mkts downgraded shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Perritt Capital Management Inc. acquired a new position in SilverCrest Metals during the first quarter worth $52,000. B. Riley Wealth Advisors Inc. raised its holdings in SilverCrest Metals by 12.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 63,990 shares of the company’s stock worth $426,000 after buying an additional 7,000 shares during the last quarter. Tidal Investments LLC raised its holdings in SilverCrest Metals by 5,624.4% during the first quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock worth $28,991,000 after buying an additional 4,276,888 shares during the last quarter. Cambridge Trust Co. raised its holdings in SilverCrest Metals by 225.5% during the first quarter. Cambridge Trust Co. now owns 28,257 shares of the company’s stock worth $188,000 after buying an additional 19,577 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in SilverCrest Metals during the second quarter worth $28,000. 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.