SilverCrest Metals (NYSEMKT:SILV) Trading Down 1.2%

SilverCrest Metals Inc. (NYSEMKT:SILV)’s stock price traded down 1.2% during trading on Thursday . The stock traded as low as $8.98 and last traded at $9.07. 2,335,363 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 1,423,583 shares. The stock had previously closed at $9.18.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased their price objective on shares of SilverCrest Metals from $7.00 to $7.50 and gave the company a “sector outperform” rating in a research report on Monday, April 8th.

SilverCrest Metals Stock Performance

The company has a fifty day moving average of $7.42 and a two-hundred day moving average of $6.36. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.63 and a beta of 1.22.

Hedge Funds Weigh In On SilverCrest Metals

Hedge funds have recently bought and sold shares of the business. U S Global Investors Inc. increased its stake in SilverCrest Metals by 138.8% during the 1st quarter. U S Global Investors Inc. now owns 680,600 shares of the company’s stock worth $4,535,000 after acquiring an additional 395,600 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in SilverCrest Metals during the 1st quarter worth approximately $107,000. Commonwealth Equity Services LLC boosted its position in SilverCrest Metals by 7.7% in the first quarter. Commonwealth Equity Services LLC now owns 86,675 shares of the company’s stock valued at $577,000 after buying an additional 6,228 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of SilverCrest Metals by 5.5% during the first quarter. Van ECK Associates Corp now owns 15,668,966 shares of the company’s stock worth $104,355,000 after buying an additional 819,929 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of SilverCrest Metals by 3.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,880,342 shares of the company’s stock worth $27,388,000 after buying an additional 140,857 shares in the last quarter. 44.75% of the stock is owned by institutional investors.

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.