SilverCrest Metals (NYSEAMERICAN:SILV) Shares Up 4.9%

Shares of SilverCrest Metals Inc. (NYSEAMERICAN:SILV) shot up 4.9% during mid-day trading on Friday . The stock traded as high as $8.84 and last traded at $8.84. 115,340 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,502,729 shares. The stock had previously closed at $8.43.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SILV. Scotiabank lifted their price objective on SilverCrest Metals from $7.00 to $7.50 and gave the company a “sector outperform” rating in a report on Monday, April 8th. Desjardins lowered SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

SilverCrest Metals Stock Up 5.0 %

The company has a market cap of $1.30 billion, a PE ratio of 10.81 and a beta of 1.22.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SILV. CIBC Asset Management Inc increased its holdings in shares of SilverCrest Metals by 1.7% during the 4th 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 during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of SilverCrest Metals during the 4th quarter worth $6,799,000. Versor Investments LP increased its holdings in shares of SilverCrest Metals by 20.5% during the 4th quarter. Versor Investments LP now owns 31,700 shares of the company’s stock worth $208,000 after buying an additional 5,400 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of SilverCrest Metals during the 4th quarter worth $33,000. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of SilverCrest Metals by 356.5% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 135,350 shares of the company’s stock worth $892,000 after buying an additional 105,700 shares during the last quarter. 44.75% of the stock is currently owned by institutional investors and hedge funds.

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.