SilverCrest Metals (NYSEAMERICAN:SILV) Stock Price Up 3.7% on Analyst Upgrade

SilverCrest Metals Inc. (NYSEAMERICAN:SILV)’s stock price traded up 3.7% on Tuesday after Scotiabank raised their price target on the stock from $7.00 to $7.50. Scotiabank currently has a sector outperform rating on the stock. SilverCrest Metals traded as high as $7.48 and last traded at $7.47. 386,326 shares changed hands during trading, a decline of 72% from the average session volume of 1,393,229 shares. The stock had previously closed at $7.20.

Separately, Desjardins downgraded shares of SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sprott Inc. raised its position in shares of SilverCrest Metals by 8.4% in the third quarter. Sprott Inc. now owns 9,347,721 shares of the company’s stock valued at $44,618,000 after purchasing an additional 722,417 shares during the period. Cutler Group LLC CA grew its stake in SilverCrest Metals by 63.8% during the fourth quarter. Cutler Group LLC CA now owns 22,545 shares of the company’s stock worth $147,000 after buying an additional 8,785 shares in the last quarter. Invesco Ltd. grew its stake in SilverCrest Metals by 0.9% during the third quarter. Invesco Ltd. now owns 4,732,026 shares of the company’s stock worth $20,868,000 after buying an additional 42,589 shares in the last quarter. U S Global Investors Inc. grew its stake in SilverCrest Metals by 418.2% during the fourth quarter. U S Global Investors Inc. now owns 285,000 shares of the company’s stock worth $1,870,000 after buying an additional 230,000 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in SilverCrest Metals during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 44.75% of the company’s stock.

SilverCrest Metals Stock Performance

The company has a market capitalization of $1.07 billion, a PE ratio of 9.29 and a beta of 1.32.

SilverCrest Metals (NYSEAMERICAN:SILV) last posted its quarterly earnings results on Monday, March 11th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $61.32 million for the quarter. SilverCrest Metals had a net margin of 47.62% and a return on equity of 33.11%. As a group, equities research analysts expect that SilverCrest Metals Inc. will post 0.46 EPS for the current fiscal year.

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.