SilverCrest Metals (NYSEAMERICAN:SILV) Shares Gap Down to $8.56

Shares of SilverCrest Metals Inc. (NYSEAMERICAN:SILV) gapped down prior to trading on Tuesday . The stock had previously closed at $8.56, but opened at $8.15. SilverCrest Metals shares last traded at $8.21, with a volume of 355,244 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Scotiabank boosted their price target on shares of SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research note on Monday, April 8th. Desjardins cut shares of SilverCrest Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th.

SilverCrest Metals Stock Performance

The stock has a market cap of $1.20 billion, a PE ratio of 10.50 and a beta of 1.31.

SilverCrest Metals (NYSEAMERICAN:SILV) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. The company had revenue of $61.32 million for the quarter. SilverCrest Metals had a net margin of 47.62% and a return on equity of 33.11%. As a group, analysts forecast that SilverCrest Metals Inc. will post 0.54 EPS for the current year.

Hedge Funds Weigh In On SilverCrest Metals

Several hedge funds have recently added to or reduced their stakes in SILV. Anchor Investment Management LLC bought a new position in SilverCrest Metals in the 4th quarter worth about $33,000. Principal Securities Inc. bought a new position in SilverCrest Metals in the 4th quarter worth about $33,000. Russell Investments Group Ltd. bought a new position in SilverCrest Metals in the 4th quarter worth about $86,000. WINTON GROUP Ltd bought a new position in SilverCrest Metals in the 3rd quarter worth about $61,000. Finally, Cutler Group LLC CA grew its stake in SilverCrest Metals by 63.8% in the 4th quarter. Cutler Group LLC CA now owns 22,545 shares of the company’s stock worth $147,000 after acquiring an additional 8,785 shares in the last quarter. 44.75% of the stock is currently owned by institutional investors.

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.