Scotiabank Downgrades SilverCrest Metals (NYSE:SILV) to Sector Perform

SilverCrest Metals (NYSE:SILV) was downgraded by investment analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $8.00 target price on the stock, up from their previous target price of $7.50. Scotiabank’s price objective points to a potential downside of 8.47% from the company’s current price.

Separately, Stifel Nicolaus increased their target price on shares of SilverCrest Metals from $9.75 to $11.25 and gave the company a “buy” rating in a research note on Wednesday, May 15th.

SilverCrest Metals Stock Up 2.0 %

Shares of SilverCrest Metals stock opened at $8.74 on Thursday. The firm has a market capitalization of $1.29 billion, a PE ratio of 10.53 and a beta of 1.22. SilverCrest Metals has a 12 month low of $4.16 and a 12 month high of $9.52.

SilverCrest Metals (NYSE:SILV) last issued its 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. SilverCrest Metals had a return on equity of 32.01% and a net margin of 49.21%. The company had revenue of $61.32 million for the quarter. As a group, analysts predict that SilverCrest Metals will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SilverCrest Metals

Several large investors have recently modified their holdings of the stock. Perritt Capital Management Inc. bought a new stake in shares of SilverCrest Metals during the first quarter valued at approximately $52,000. B. Riley Wealth Advisors Inc. grew its holdings in SilverCrest Metals by 12.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 63,990 shares of the company’s stock valued at $426,000 after purchasing an additional 7,000 shares during the period. Finally, Tidal Investments LLC increased its position in SilverCrest Metals by 5,624.4% in the first quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock worth $28,991,000 after buying an additional 4,276,888 shares during the last quarter. 44.75% of the stock is owned by institutional investors.

SilverCrest Metals Company Profile

SilverCrest Metals Inc focuses on the acquisition, exploration, advancement and development of base mineral and precious metals properties primarily in Mexico. The company’s properties consist of Las Chispas property. SilverCrest Metals Inc is headquartered in Vancouver, BC.