SilverCrest Metals (NYSEAMERICAN:SILV) Reaches New 52-Week High at $7.76

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.76 and last traded at $7.74, with a volume of 357993 shares traded. The stock had previously closed at $7.57.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SILV. Scotiabank raised 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. Desjardins lowered SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

SilverCrest Metals Price Performance

The firm has a market capitalization of $1.15 billion, a PE ratio of 9.74 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 (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. SilverCrest Metals had a net margin of 47.62% and a return on equity of 33.11%. The business had revenue of $61.32 million for the quarter. On average, equities research analysts anticipate that SilverCrest Metals Inc. will post 0.46 EPS for the current year.

Institutional Trading of SilverCrest Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc raised its position 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. Mariner LLC lifted its stake in shares of SilverCrest Metals by 32.5% in the third quarter. Mariner LLC now owns 18,683 shares of the company’s stock worth $82,000 after acquiring an additional 4,581 shares during the period. Anchor Investment Management LLC acquired a new stake in SilverCrest Metals during the 4th quarter valued at approximately $33,000. Principal Securities Inc. bought a new position in SilverCrest Metals during the 4th quarter worth approximately $33,000. Finally, Versor Investments LP lifted its position in shares of SilverCrest Metals by 20.5% in the 4th quarter. Versor Investments LP now owns 31,700 shares of the company’s stock worth $208,000 after purchasing an additional 5,400 shares during the period. 44.75% of the stock is currently owned by institutional investors.

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.