SilverCrest Metals (NYSE:SILV) Trading 6.2% Higher – What’s Next?

SilverCrest Metals Inc. (NYSE:SILV)’s stock price was up 6.2% during trading on Tuesday . The stock traded as high as $10.11 and last traded at $10.07. Approximately 590,613 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 1,710,582 shares. The stock had previously closed at $9.48.

Analyst Ratings Changes

Separately, Ventum Cap Mkts downgraded shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th.

SilverCrest Metals Price Performance

The company’s 50-day moving average price is $9.95 and its 200-day moving average price is $9.49. The company has a market cap of $1.49 billion, a P/E ratio of 17.56 and a beta of 1.20.

Institutional Investors Weigh In On SilverCrest Metals

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its holdings in SilverCrest Metals by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 89,419 shares of the company’s stock worth $729,000 after purchasing an additional 2,744 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in SilverCrest Metals by 22.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,414,499 shares of the company’s stock worth $11,529,000 after purchasing an additional 262,568 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in SilverCrest Metals by 2,768.5% during the second quarter. Renaissance Technologies LLC now owns 445,300 shares of the company’s stock worth $3,629,000 after purchasing an additional 429,776 shares during the last quarter. Toronto Dominion Bank boosted its holdings in SilverCrest Metals by 40.7% during the second quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock worth $35,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in SilverCrest Metals by 137.4% during the second quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock worth $20,516,000 after purchasing an additional 1,452,622 shares during the last quarter. 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.