SilverCrest Metals (CVE:SIL) Stock Price Down 0.5% – Here’s What Happened

Shares of SilverCrest Metals Inc (CVE:SIL) dropped 0.5% during trading on Wednesday . The stock traded as low as C$8.08 and last traded at C$8.52. Approximately 246,455 shares were traded during mid-day trading, an increase of 58% from the average daily volume of 156,209 shares. The stock had previously closed at C$8.56.

Analysts Set New Price Targets

SIL has been the subject of several research reports. Ventum Financial downgraded shares of SilverCrest Metals from a “buy” rating to a “neutral” rating and upped their price target for the company from C$13.45 to C$15.50 in a research report on Monday, October 7th. Royal Bank of Canada upped their price objective on shares of SilverCrest Metals from C$12.00 to C$13.00 in a research report on Friday, December 6th.

SilverCrest Metals Stock Performance

The company has a current ratio of 5.50, a quick ratio of 5.43 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average price is C$8.52 and its two-hundred day moving average price is C$8.52. The firm has a market capitalization of C$1.25 billion and a price-to-earnings ratio of -83.53.

Insider Buying and Selling at SilverCrest Metals

In other news, Director Nathan Eric Fier sold 16,000 shares of SilverCrest Metals stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of C$15.85, for a total transaction of C$253,600.00. Also, Director Ani Andreeva Markova sold 24,749 shares of SilverCrest Metals stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$13.40, for a total transaction of C$331,636.60. In the last three months, insiders sold 54,019 shares of company stock worth $770,815.

About SilverCrest Metals

SilverCrest Metals Inc acquires, explores for, and develops precious metal properties in Mexico. It primarily explores for silver and gold properties. The company's principal property is the Las Chispas project that consists of 28 concessions totaling approximately 1,401 hectares located in Sonora, Mexico.