SilverCrest Metals (NYSEAMERICAN:SILV) Shares Gap Down to $8.56

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) gapped down prior to trading on Tuesday . The stock had previously closed at $8.56, but opened at $8.15. SilverCrest Metals shares last traded at $8.21, with a volume of 355,244 shares traded.

Analysts Set New Price Targets

SILV has been the subject of several research analyst reports. Scotiabank increased their target price on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research report on Monday, April 8th. Desjardins downgraded shares of SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

SilverCrest Metals Price Performance

The firm has a market cap of $1.23 billion, a PE ratio of 10.47 and a beta of 1.22.

SilverCrest Metals (NYSEAMERICAN:SILV) last announced its quarterly earnings results on Monday, March 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. SilverCrest Metals had a return on equity of 33.11% and a net margin of 47.62%. The firm had revenue of $61.32 million during the quarter. On average, analysts forecast that SilverCrest Metals Inc. will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in SilverCrest Metals by 1.2% during the fourth quarter. Van ECK Associates Corp now owns 14,849,037 shares of the company’s stock valued at $97,261,000 after acquiring an additional 178,950 shares during the last quarter. Sprott Inc. lifted its holdings in shares of SilverCrest Metals by 8.4% during the 3rd quarter. Sprott Inc. now owns 9,347,721 shares of the company’s stock valued at $44,618,000 after purchasing an additional 722,417 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of SilverCrest Metals by 0.9% during the 3rd quarter. Invesco Ltd. now owns 4,732,026 shares of the company’s stock valued at $20,868,000 after purchasing an additional 42,589 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SilverCrest Metals by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,739,485 shares of the company’s stock worth $24,644,000 after purchasing an additional 85,060 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in SilverCrest Metals during the 4th quarter worth $6,799,000. 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.