SilverCrest Metals (NYSE:SILV) Shares Up 3.6% – What’s Next?

SilverCrest Metals Inc. (NYSE:SILV) shares were up 3.6% on Wednesday . The stock traded as high as $10.08 and last traded at $10.06. Approximately 1,154,997 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 1,686,156 shares. The stock had previously closed at $9.71.

Analysts Set New Price Targets

Separately, 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 Price Performance

The stock’s 50-day moving average is $9.95 and its 200 day moving average is $9.46. The company has a market cap of $1.48 billion, a PE ratio of 17.42 and a beta of 1.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SILV. Toronto Dominion Bank raised its position in SilverCrest Metals by 40.7% in the 2nd quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock valued at $35,000 after purchasing an additional 1,225 shares in the last quarter. Blue Trust Inc. increased 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 buying an additional 3,379 shares during the period. Eastern Bank acquired a new stake in SilverCrest Metals in the third quarter valued at approximately $88,000. D.A. Davidson & CO. purchased a new position in SilverCrest Metals in the third quarter worth approximately $92,000. Finally, Austin Private Wealth LLC acquired a new position in SilverCrest Metals during the 3rd quarter worth approximately $94,000. Hedge funds and other institutional investors 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.