SilverCrest Metals Inc. (NASDAQ:SILV) Shares Sold by Sprott Inc.

Sprott Inc. lowered its holdings in SilverCrest Metals Inc. (NASDAQ:SILV) by 7.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,483,389 shares of the company’s stock after selling 208,361 shares during the period. SilverCrest Metals makes up 3.0% of Sprott Inc.’s holdings, making the stock its 6th biggest holding. Sprott Inc. owned approximately 2.89% of SilverCrest Metals worth $12,424,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of SilverCrest Metals in the second quarter valued at approximately $40,000. 9258 Wealth Management LLC acquired a new position in shares of SilverCrest Metals in the first quarter valued at approximately $66,000. CIBC World Markets Inc. grew its holdings in shares of SilverCrest Metals by 178.8% in the first quarter. CIBC World Markets Inc. now owns 60,505 shares of the company’s stock valued at $198,000 after purchasing an additional 38,805 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of SilverCrest Metals in the first quarter valued at approximately $374,000. Finally, Fiera Capital Corp grew its holdings in shares of SilverCrest Metals by 305.1% in the first quarter. Fiera Capital Corp now owns 182,300 shares of the company’s stock valued at $596,000 after purchasing an additional 137,300 shares in the last quarter.

NASDAQ SILV traded down $0.02 on Monday, hitting $5.39. 6,356 shares of the stock were exchanged, compared to its average volume of 137,435. SilverCrest Metals Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $6.69. The company has a 50-day moving average price of $5.74 and a 200-day moving average price of $4.14.

SILV has been the subject of several analyst reports. Roth Capital set a $7.00 price target on shares of SilverCrest Metals and gave the stock a “buy” rating in a report on Monday, August 26th. Zacks Investment Research upgraded shares of SilverCrest Metals from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. BMO Capital Markets initiated coverage on shares of SilverCrest Metals in a report on Friday, August 16th. They set a “buy” rating for the company. Desjardins reiterated a “buy” rating on shares of SilverCrest Metals in a report on Monday, August 26th. Finally, National Bank Financial reiterated a “buy” rating on shares of SilverCrest Metals in a report on Friday, August 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. SilverCrest Metals currently has a consensus rating of “Buy” and a consensus target price of $4.88.

SilverCrest Metals Profile

SilverCrest Metals Inc engages in the acquisition, exploration, and development of precious metal properties. It primarily explores for silver and gold properties. The company's principal property is the Las Chispas project that consists of 27 concessions totaling approximately 1,389 hectares located in Sonora, Mexico.

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Institutional Ownership by Quarter for SilverCrest Metals (NASDAQ:SILV)

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