SilverCrest Metals (NASDAQ:SILV) Stock Price Up 6.1%

SilverCrest Metals Inc. (NASDAQ:SILV) shares rose 6.1% during mid-day trading on Tuesday . The company traded as high as $5.70 and last traded at $5.59, approximately 179,368 shares traded hands during mid-day trading. An increase of 68% from the average daily volume of 106,750 shares. The stock had previously closed at $5.27.

SILV has been the subject of a number of recent research reports. BMO Capital Markets began coverage on SilverCrest Metals in a research note on Friday, August 16th. They issued a “buy” rating for the company. National Bank Financial reiterated a “buy” rating on shares of SilverCrest Metals in a report on Friday, August 16th. Zacks Investment Research upgraded SilverCrest Metals from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Canaccord Genuity reiterated a “buy” rating on shares of SilverCrest Metals in a report on Friday, April 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $3.82.

The business has a fifty day moving average price of $4.98 and a two-hundred day moving average price of $3.89.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SILV. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of SilverCrest Metals during the 2nd quarter worth $32,000. FNY Investment Advisers LLC purchased a new position in shares of SilverCrest Metals during the 2nd quarter worth $40,000. 9258 Wealth Management LLC purchased a new position in shares of SilverCrest Metals during the 1st quarter worth $66,000. Morgan Stanley grew its holdings in shares of SilverCrest Metals by 22,071.1% during the 2nd quarter. Morgan Stanley now owns 36,804 shares of the company’s stock worth $149,000 after purchasing an additional 36,638 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of SilverCrest Metals during the 2nd quarter worth $177,000.

SilverCrest Metals Company Profile (NASDAQ:SILV)

SilverCrest Metals Inc engages in the acquisition, exploration, and development of precious metal properties. It primarily explores for silver and gold properties. The company's principal property is the Las Chispas project that consists of 27 concessions totaling approximately 1,389 hectares located in Sonora, Mexico.

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