SilverCrest Metals (NYSE:SILV) Trading 5.1% Higher – Here’s Why

SilverCrest Metals Inc. (NYSE:SILV) shares traded up 5.1% on Tuesday . The stock traded as high as $10.27 and last traded at $10.27. 328,443 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,746,688 shares. The stock had previously closed at $9.77.

Analyst Ratings Changes

Several brokerages have commented on SILV. Ventum Cap Mkts downgraded SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Scotiabank lifted their target price on shares of SilverCrest Metals from $8.50 to $9.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th.

SilverCrest Metals Stock Performance

The company has a market capitalization of $1.55 billion, a P/E ratio of 18.30 and a beta of 1.19. The company has a 50-day simple moving average of $10.15 and a 200 day simple moving average of $9.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SILV. B. Riley Wealth Advisors Inc. grew its position in SilverCrest Metals by 12.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 63,990 shares of the company’s stock worth $426,000 after buying an additional 7,000 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of SilverCrest Metals during the 2nd quarter worth approximately $28,000. Fermata Advisors LLC bought a new stake in shares of SilverCrest Metals during the second quarter valued at approximately $99,000. Baader Bank Aktiengesellschaft acquired a new position in shares of SilverCrest Metals in the second quarter valued at $213,000. Finally, Corundum Trust Company INC bought a new position in SilverCrest Metals in the second quarter worth $363,000. 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.