SilverCrest Metals (NYSE:SILV) Trading 5.1% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SILV shares. Scotiabank increased their price objective on shares of SilverCrest Metals from $8.50 to $9.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Ventum Cap Mkts downgraded SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th.

SilverCrest Metals Stock Performance

The company has a market cap of $1.55 billion, a PE ratio of 18.30 and a beta of 1.19. The company has a 50 day simple moving average of $10.15 and a two-hundred day simple moving average of $9.20.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its holdings in SilverCrest Metals by 12.3% in 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 during the last quarter. Mather Group LLC. bought a new position in shares of SilverCrest Metals during the 2nd quarter valued at $28,000. Fermata Advisors LLC acquired a new stake in shares of SilverCrest Metals in the 2nd quarter valued at $99,000. Baader Bank Aktiengesellschaft acquired a new position in SilverCrest Metals during the second quarter worth $213,000. Finally, Corundum Trust Company INC bought a new position in SilverCrest Metals during the second quarter valued at about $363,000. 44.75% of the stock is owned by institutional investors and hedge funds.

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.