FY2024 EPS Estimates for SilverCrest Metals Inc. (NYSE:SILV) Lowered by Raymond James

SilverCrest Metals Inc. (NYSE:SILV) – Investment analysts at Raymond James lowered their FY2024 EPS estimates for shares of SilverCrest Metals in a research note issued on Monday, September 23rd. Raymond James analyst C. Stanley now expects that the company will earn $0.62 per share for the year, down from their previous forecast of $0.72. The consensus estimate for SilverCrest Metals’ current full-year earnings is $0.64 per share. Raymond James also issued estimates for SilverCrest Metals’ FY2025 earnings at $0.66 EPS.

Separately, Scotiabank raised their price objective on shares of SilverCrest Metals from $8.50 to $9.00 and gave the company a “sector perform” rating in a report on Monday, August 19th.

SilverCrest Metals Stock Performance

SilverCrest Metals stock opened at $9.67 on Thursday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 11.65 and a beta of 1.22. SilverCrest Metals has a 52-week low of $4.26 and a 52-week high of $10.27. The business’s 50 day simple moving average is $8.73.

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). The company had revenue of $72.74 million for the quarter. SilverCrest Metals had a return on equity of 25.66% and a net margin of 40.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its holdings in shares of SilverCrest Metals by 5,624.4% in the first quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock valued at $28,991,000 after acquiring an additional 4,276,888 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of SilverCrest Metals by 137.4% in the second quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock valued at $20,516,000 after acquiring an additional 1,452,622 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in shares of SilverCrest Metals in the second quarter valued at about $3,653,000. Renaissance Technologies LLC boosted its holdings in shares of SilverCrest Metals by 2,768.5% in the second quarter. Renaissance Technologies LLC now owns 445,300 shares of the company’s stock valued at $3,629,000 after acquiring an additional 429,776 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of SilverCrest Metals in the second quarter valued at about $2,467,000. 44.75% of the stock is owned by hedge funds and other 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.