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

SilverCrest Metals Inc. (NYSEAMERICAN:SILV)’s stock 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 trading hands.

Analyst Ratings Changes

A number of research firms have commented on SILV. Scotiabank boosted their price target on shares of SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research note 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 Performance

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.55 and a beta of 1.31.

SilverCrest Metals (NYSEAMERICAN:SILV) last issued its quarterly earnings data on Monday, March 11th. The company reported $0.24 earnings per share 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 firm had revenue of $61.32 million for the quarter. As a group, equities analysts expect that SilverCrest Metals Inc. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On SilverCrest Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SILV. Triasima Portfolio Management inc. purchased a new stake in SilverCrest Metals during the 4th quarter valued at approximately $1,440,000. Sprott Inc. grew its holdings in SilverCrest Metals by 8.4% during the 3rd quarter. Sprott Inc. now owns 9,347,721 shares of the company’s stock valued at $44,618,000 after buying an additional 722,417 shares in the last quarter. Cutler Group LLC CA grew its holdings in shares of SilverCrest Metals by 63.8% in the fourth quarter. Cutler Group LLC CA now owns 22,545 shares of the company’s stock valued at $147,000 after purchasing an additional 8,785 shares in the last quarter. U S Global Investors Inc. grew its holdings in shares of SilverCrest Metals by 418.2% in the fourth quarter. U S Global Investors Inc. now owns 285,000 shares of the company’s stock valued at $1,870,000 after purchasing an additional 230,000 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of SilverCrest Metals by 0.9% in the third quarter. Invesco Ltd. now owns 4,732,026 shares of the company’s stock valued at $20,868,000 after purchasing an additional 42,589 shares in the last quarter. Institutional investors own 44.75% of the company’s stock.

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.