SilverCrest Metals (NYSEAMERICAN:SILV) Shares Gap Down to $8.56

SilverCrest Metals Inc. (NYSEAMERICAN:SILV)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $8.56, but opened at $8.15. SilverCrest Metals shares last traded at $8.21, with a volume of 355,244 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SILV. Scotiabank upped their price objective on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research report on Monday, April 8th. Desjardins cut SilverCrest Metals from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th.

SilverCrest Metals Price Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.50 and a beta of 1.31.

SilverCrest Metals (NYSEAMERICAN:SILV) last announced its earnings results on Monday, March 11th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $61.32 million for the quarter. SilverCrest Metals had a return on equity of 33.11% and a net margin of 47.62%. On average, equities analysts expect that SilverCrest Metals Inc. will post 0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SilverCrest Metals

Large investors have recently modified their holdings of the business. Anchor Investment Management LLC acquired a new stake in shares of SilverCrest Metals in the 4th quarter valued at $33,000. Principal Securities Inc. acquired a new stake in shares of SilverCrest Metals during the 4th quarter valued at $33,000. WINTON GROUP Ltd acquired a new stake in shares of SilverCrest Metals during the 3rd quarter valued at $61,000. Russell Investments Group Ltd. acquired a new stake in shares of SilverCrest Metals during the 4th quarter valued at $86,000. Finally, Rathbones Group PLC acquired a new stake in shares of SilverCrest Metals during the 3rd quarter valued at $140,000. Institutional investors and hedge funds own 44.75% of the company’s stock.

SilverCrest Metals Company 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.