SilverCrest Metals (NYSE:SILV) Shares Gap Down – Here’s Why

SilverCrest Metals Inc. (NYSE:SILV)’s share price gapped down before the market opened on Monday . The stock had previously closed at $10.13, but opened at $9.83. SilverCrest Metals shares last traded at $9.82, with a volume of 876,736 shares traded.

Analysts Set New Price Targets

SILV has been the topic of several recent research reports. Ventum Cap Mkts downgraded SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Scotiabank lifted their target price on shares of SilverCrest Metals from $8.50 to $9.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th.

SilverCrest Metals Price Performance

The company has a fifty day moving average price of $8.78. The firm has a market cap of $1.45 billion, a PE ratio of 14.27 and a beta of 1.23.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new stake in shares of SilverCrest Metals in the 2nd quarter worth approximately $28,000. Toronto Dominion Bank increased its holdings in shares of SilverCrest Metals by 40.7% in the 2nd quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock valued at $35,000 after acquiring an additional 1,225 shares during the period. Perritt Capital Management Inc. bought a new position in shares of SilverCrest Metals in the 1st quarter worth $52,000. Fermata Advisors LLC purchased a new stake in shares of SilverCrest Metals during the 2nd quarter worth $99,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in SilverCrest Metals during the second quarter valued at about $213,000. Hedge funds and other institutional investors own 44.75% of the company’s stock.

SilverCrest Metals Company Profile

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.