SilverCrest Metals (NYSE:SILV) Reaches New 12-Month High at $10.27

SilverCrest Metals Inc. (NYSE:SILV) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.27 and last traded at $10.22, with a volume of 1546910 shares changing hands. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price target on SilverCrest Metals from $8.50 to $9.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th.

SilverCrest Metals Stock Performance

The firm’s 50-day moving average is $8.74. The company has a market capitalization of $1.44 billion, a PE ratio of 11.65 and a beta of 1.22.

SilverCrest Metals (NYSE:SILV) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. The firm had revenue of $72.74 million for the quarter. On average, analysts forecast that SilverCrest Metals Inc. will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On SilverCrest Metals

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of SilverCrest Metals during the second quarter valued at approximately $2,467,000. Fermata Advisors LLC purchased a new stake in SilverCrest Metals in the second quarter worth $99,000. TD Asset Management Inc lifted its position in shares of SilverCrest Metals by 16.4% during the second quarter. TD Asset Management Inc now owns 2,113,126 shares of the company’s stock worth $17,265,000 after purchasing an additional 297,365 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of SilverCrest Metals during the second quarter worth $213,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of SilverCrest Metals by 6.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 139,726 shares of the company’s stock valued at $1,139,000 after purchasing an additional 8,182 shares during the period. 44.75% of the stock is currently owned by 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.