SilverCrest Metals Inc. (NYSEAMERICAN:SILV) is Sprott Inc.’s 2nd Largest Position

Sprott Inc. reduced its stake in shares of SilverCrest Metals Inc. (NYSEAMERICAN:SILV) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,057,078 shares of the company’s stock after selling 290,643 shares during the period. SilverCrest Metals accounts for 5.3% of Sprott Inc.’s portfolio, making the stock its 2nd biggest holding. Sprott Inc. owned 6.16% of SilverCrest Metals worth $59,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SILV. CIBC Asset Management Inc lifted its holdings in shares of SilverCrest Metals by 1.7% in the fourth quarter. CIBC Asset Management Inc now owns 189,825 shares of the company’s stock worth $1,249,000 after buying an additional 3,186 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of SilverCrest Metals in the fourth quarter worth approximately $33,000. Principal Securities Inc. bought a new stake in shares of SilverCrest Metals during the fourth quarter worth $33,000. Versor Investments LP lifted its holdings in SilverCrest Metals by 20.5% during the 4th quarter. Versor Investments LP now owns 31,700 shares of the company’s stock valued at $208,000 after buying an additional 5,400 shares in the last quarter. Finally, Cutler Group LLC CA boosted its holdings in shares of SilverCrest Metals by 63.8% in the fourth quarter. Cutler Group LLC CA now owns 22,545 shares of the company’s stock valued at $147,000 after purchasing an additional 8,785 shares during the period. 44.75% of the stock is currently owned by institutional investors.

SilverCrest Metals Trading Down 5.6 %

SilverCrest Metals stock traded down $0.47 during mid-day trading on Friday, reaching $7.98. 1,835,910 shares of the company traded hands, compared to its average volume of 1,554,974. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 10.23 and a beta of 1.22. SilverCrest Metals Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $9.52.

SilverCrest Metals (NYSEAMERICAN:SILV) last issued its earnings results on Tuesday, May 14th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. The firm had revenue of $63.65 million for the quarter. SilverCrest Metals had a return on equity of 33.11% and a net margin of 47.62%. On average, sell-side analysts predict that SilverCrest Metals Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SILV has been the subject of several recent research reports. Scotiabank boosted their price target on shares of SilverCrest Metals from $7.00 to $7.50 and gave the company a “sector outperform” rating in a report on Monday, April 8th. Desjardins downgraded shares of SilverCrest Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th.

SilverCrest Metals 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.