SilverCrest Metals (NYSEAMERICAN:SILV) Shares Gap Down to $7.90

SilverCrest Metals Inc. (NYSEAMERICAN:SILV)’s share price gapped down before the market opened on Monday . The stock had previously closed at $7.90, but opened at $7.62. SilverCrest Metals shares last traded at $7.64, with a volume of 550,414 shares.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Desjardins downgraded SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Scotiabank boosted their target price on shares of SilverCrest Metals from $7.00 to $7.50 and gave the company a “sector outperform” rating in a research note on Monday, April 8th.

SilverCrest Metals Stock Up 4.7 %

The firm has a market cap of $1.15 billion, a P/E ratio of 9.60 and a beta of 1.32.

SilverCrest Metals (NYSEAMERICAN:SILV) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. The company had revenue of $61.32 million during the quarter. SilverCrest Metals had a net margin of 47.62% and a return on equity of 33.11%. On average, research analysts anticipate that SilverCrest Metals Inc. will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On SilverCrest Metals

Several large investors have recently bought and sold shares of SILV. CIBC Asset Management Inc boosted its stake in SilverCrest Metals by 1.7% during the 4th quarter. CIBC Asset Management Inc now owns 189,825 shares of the company’s stock worth $1,249,000 after purchasing an additional 3,186 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in SilverCrest Metals during the fourth quarter worth about $6,799,000. Versor Investments LP grew its stake in SilverCrest Metals by 20.5% during the 4th quarter. Versor Investments LP now owns 31,700 shares of the company’s stock valued at $208,000 after acquiring an additional 5,400 shares in the last quarter. Principal Securities Inc. acquired a new stake in SilverCrest Metals in the 4th quarter valued at about $33,000. Finally, Pekin Hardy Strauss Inc. lifted its stake in SilverCrest Metals by 356.5% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 135,350 shares of the company’s stock worth $892,000 after purchasing an additional 105,700 shares in the last quarter. 44.75% of the stock is currently 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.