SilverCrest Metals (NYSEAMERICAN:SILV) Trading 3.2% Higher

Shares of SilverCrest Metals Inc. (NYSEAMERICAN:SILV) shot up 3.2% on Wednesday . The stock traded as high as $7.19 and last traded at $7.17. 408,806 shares were traded during trading, a decline of 72% from the average session volume of 1,438,809 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

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

SilverCrest Metals Stock Up 2.3 %

The stock has a market cap of $1.05 billion, a P/E ratio of 8.93 and a beta of 1.32.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Anchor Investment Management LLC bought a new position in SilverCrest Metals during the fourth quarter worth $33,000. Principal Securities Inc. bought a new position in shares of SilverCrest Metals in the 4th quarter worth about $33,000. Alps Advisors Inc. acquired a new position in shares of SilverCrest Metals in the 3rd quarter valued at about $56,000. Russell Investments Group Ltd. bought a new stake in shares of SilverCrest Metals during the 4th quarter valued at about $86,000. Finally, WINTON GROUP Ltd acquired a new stake in SilverCrest Metals during the third quarter worth approximately $61,000. 44.75% of the stock is owned by institutional investors and hedge funds.

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.