SilverCrest Metals (NYSE:SILV) Sets New 12-Month High – What’s Next?

SilverCrest Metals Inc. (NYSE:SILV) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $10.27 and last traded at $10.18, with a volume of 2435646 shares. The stock had previously closed at $9.29.

Wall Street Analysts Forecast Growth

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

SilverCrest Metals Stock Up 9.0 %

The stock’s fifty day moving average price is $8.76. The stock has a market capitalization of $1.51 billion, a PE ratio of 12.20 and a beta of 1.23.

SilverCrest Metals (NYSE:SILV) last issued its earnings results 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 business had revenue of $72.74 million during the quarter. On average, analysts predict that SilverCrest Metals Inc. will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mather Group LLC. bought a new position in SilverCrest Metals in the 2nd quarter valued at approximately $28,000. Toronto Dominion Bank lifted 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 during the period. Perritt Capital Management Inc. bought a new stake in shares of SilverCrest Metals in the first quarter worth $52,000. Fermata Advisors LLC bought a new position in SilverCrest Metals during the 2nd quarter worth $99,000. Finally, Cambridge Trust Co. lifted its holdings in SilverCrest Metals by 225.5% during the 1st quarter. Cambridge Trust Co. now owns 28,257 shares of the company’s stock worth $188,000 after buying an additional 19,577 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.