The Manufacturers Life Insurance Company Cuts Stock Holdings in SilverCrest Metals Inc. (NYSE:SILV)

The Manufacturers Life Insurance Company decreased its holdings in shares of SilverCrest Metals Inc. (NYSE:SILV) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,035 shares of the company’s stock after selling 11,827 shares during the quarter. The Manufacturers Life Insurance Company owned 0.20% of SilverCrest Metals worth $2,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Toronto Dominion Bank grew its holdings in shares of SilverCrest Metals by 40.7% during the second quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock worth $35,000 after purchasing an additional 1,225 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in SilverCrest Metals by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 89,419 shares of the company’s stock worth $729,000 after buying an additional 2,744 shares during the last quarter. Mather Group LLC. bought a new stake in SilverCrest Metals in the 2nd quarter worth approximately $28,000. B. Riley Wealth Advisors Inc. lifted its position in SilverCrest Metals by 12.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 63,990 shares of the company’s stock worth $426,000 after buying an additional 7,000 shares during the last quarter. Finally, Perritt Capital Management Inc. bought a new stake in SilverCrest Metals in the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 44.75% of the company’s stock.

SilverCrest Metals Stock Up 1.2 %

Shares of SILV stock opened at $9.88 on Thursday. SilverCrest Metals Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $10.58. The company has a 50 day moving average of $8.78. The company has a market capitalization of $1.47 billion, a P/E ratio of 11.90 and a beta of 1.23.

SilverCrest Metals (NYSE:SILV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. The company had revenue of $72.74 million during the quarter. On average, equities analysts forecast that SilverCrest Metals Inc. will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

SILV has been the subject of a number of recent research reports. Scotiabank boosted their target price 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. Ventum Cap Mkts downgraded SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th.

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.