SilverCrest Metals (NYSE:SILV) Shares Gap Down – Here’s What Happened

SilverCrest Metals Inc. (NYSE:SILV) shares gapped down prior to trading on Monday . The stock had previously closed at $10.17, but opened at $9.73. SilverCrest Metals shares last traded at $9.80, with a volume of 319,704 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SILV. 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 lowered shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th.

SilverCrest Metals Trading Down 3.2 %

The firm’s fifty day moving average price is $10.14 and its 200-day moving average price is $9.19. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 17.28 and a beta of 1.21.

Institutional Trading of SilverCrest Metals

Several hedge funds have recently made changes to their positions in the company. Synovus Financial Corp purchased a new position in shares of SilverCrest Metals in the 3rd quarter valued at about $128,000. Virtu Financial LLC purchased a new position in SilverCrest Metals during the 3rd quarter valued at about $95,000. Barclays PLC increased its holdings in SilverCrest Metals by 360.0% during the 3rd quarter. Barclays PLC now owns 39,714 shares of the company’s stock valued at $367,000 after acquiring an additional 31,081 shares in the last quarter. Toronto Dominion Bank increased its holdings in SilverCrest Metals by 203.4% during the 3rd quarter. Toronto Dominion Bank now owns 12,847 shares of the company’s stock valued at $119,000 after acquiring an additional 8,613 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in SilverCrest Metals by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 71,022 shares of the company’s stock valued at $662,000 after acquiring an additional 5,227 shares in the last quarter. Institutional investors and hedge funds own 44.75% of the company’s stock.

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.