SilverCrest Metals (NYSE:SILV) Shares Gap Up – Should You Buy?

SilverCrest Metals Inc. (NYSE:SILV) gapped up before the market opened on Friday . The stock had previously closed at $9.96, but opened at $10.31. SilverCrest Metals shares last traded at $10.23, with a volume of 292,972 shares.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts lowered shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th.

SilverCrest Metals Stock Performance

The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 17.81 and a beta of 1.20. The company has a 50-day simple moving average of $9.96 and a two-hundred day simple moving average of $9.56.

Hedge Funds Weigh In On SilverCrest Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank boosted its stake in shares of SilverCrest Metals by 40.7% during the 2nd quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock worth $35,000 after acquiring an additional 1,225 shares during the period. Blue Trust Inc. raised its position in shares of SilverCrest Metals by 194.1% in the third quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock valued at $47,000 after purchasing an additional 3,379 shares during the period. Eastern Bank acquired a new stake in shares of SilverCrest Metals during the 3rd quarter worth about $88,000. D.A. Davidson & CO. acquired a new position in SilverCrest Metals in the 3rd quarter valued at about $92,000. Finally, Austin Private Wealth LLC bought a new position in SilverCrest Metals in the 3rd quarter valued at about $94,000. Institutional investors own 44.75% of the company’s stock.

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.