SilverCrest Metals (NYSE:SILV) Hits New 52-Week High – Time to Buy?

SilverCrest Metals Inc. (NYSE:SILV) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $11.97 and last traded at $11.96, with a volume of 1752969 shares changing hands. The stock had previously closed at $11.22.

SilverCrest Metals Stock Performance

The firm has a 50-day moving average price of $10.12 and a two-hundred day moving average price of $9.68. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 20.42 and a beta of 1.21.

Institutional Trading of SilverCrest Metals

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in SilverCrest Metals by 194.1% during the third quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock worth $47,000 after purchasing an additional 3,379 shares in the last quarter. Eastern Bank acquired a new position in shares of SilverCrest Metals in the third quarter valued at approximately $88,000. D.A. Davidson & CO. acquired a new stake in shares of SilverCrest Metals during the third quarter worth $92,000. Mint Tower Capital Management B.V. purchased a new position in shares of SilverCrest Metals during the 4th quarter worth about $92,000. Finally, Austin Private Wealth LLC purchased a new stake in shares of SilverCrest Metals during the 3rd quarter valued at $94,000. 44.75% of the stock is owned by hedge funds and other institutional investors.

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.