SilverCrest Metals (NYSE:SILV) Shares Gap Up – Still a Buy?

SilverCrest Metals Inc. (NYSE:SILV) shares gapped up prior to trading on Friday . The stock had previously closed at $9.96, but opened at $10.31. SilverCrest Metals shares last traded at $10.23, with a volume of 292,972 shares.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts cut SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th.

SilverCrest Metals Price Performance

The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 17.81 and a beta of 1.20. The stock’s fifty day moving average price is $9.96 and its 200-day moving average price is $9.56.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank increased its position in shares of SilverCrest Metals by 40.7% during the second quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock valued at $35,000 after purchasing an additional 1,225 shares during the period. Blue Trust Inc. lifted its position in SilverCrest Metals by 27.4% during the 4th quarter. Blue Trust Inc. now owns 6,522 shares of the company’s stock worth $60,000 after buying an additional 1,402 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of SilverCrest Metals by 6.9% in the third quarter. Townsquare Capital LLC now owns 23,012 shares of the company’s stock valued at $213,000 after purchasing an additional 1,477 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of SilverCrest Metals by 3.5% during the second quarter. NewEdge Advisors LLC now owns 145,375 shares of the company’s stock worth $1,185,000 after acquiring an additional 4,957 shares during the last quarter. Finally, Corundum Trust Company INC lifted its position in SilverCrest Metals by 11.2% during the 3rd quarter. Corundum Trust Company INC now owns 49,500 shares of the company’s stock valued at $458,000 after purchasing an additional 5,000 shares during the period. 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.