SilverCrest Metals Inc. (NYSEAMERICAN:SILV – Get Free Report) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 6,660,000 shares, a decline of 21.1% from the May 15th total of 8,440,000 shares. Based on an average daily volume of 1,880,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 4.6% of the company’s stock are sold short.
Hedge Funds Weigh In On SilverCrest Metals
Several large investors have recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of SilverCrest Metals by 1.7% during the fourth quarter. CIBC Asset Management Inc now owns 189,825 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,186 shares during the last quarter. Anchor Investment Management LLC bought a new stake in SilverCrest Metals in the fourth quarter worth approximately $33,000. Principal Securities Inc. bought a new stake in SilverCrest Metals in the fourth quarter worth approximately $33,000. Versor Investments LP increased its holdings in SilverCrest Metals by 20.5% in the fourth quarter. Versor Investments LP now owns 31,700 shares of the company’s stock worth $208,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Cutler Group LLC CA increased its holdings in SilverCrest Metals by 63.8% in the fourth quarter. Cutler Group LLC CA now owns 22,545 shares of the company’s stock worth $147,000 after purchasing an additional 8,785 shares in the last quarter. 44.75% of the stock is currently owned by institutional investors.
SilverCrest Metals Stock Up 2.7 %
NYSEAMERICAN:SILV traded up $0.21 during trading hours on Friday, hitting $8.12. The company’s stock had a trading volume of 1,446,849 shares, compared to its average volume of 1,533,516. The firm has a market capitalization of $1.20 billion, a PE ratio of 10.41 and a beta of 1.22. SilverCrest Metals has a twelve month low of $4.16 and a twelve month high of $9.52.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Scotiabank upped their price target on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research report on Monday, April 8th. Desjardins cut SilverCrest Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th.
Read Our Latest Analysis on SilverCrest Metals
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.
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