SilverCrest Metals (NYSEAMERICAN:SILV) Shares Up 4.9%

SilverCrest Metals Inc. (NYSEAMERICAN:SILV)’s stock price shot up 4.9% during trading on Friday . The stock traded as high as $8.84 and last traded at $8.84. 115,340 shares were traded during trading, a decline of 92% from the average session volume of 1,502,729 shares. The stock had previously closed at $8.43.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SILV. Scotiabank boosted their target price on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a report on Monday, April 8th. Desjardins cut SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

SilverCrest Metals Stock Up 5.0 %

The firm has a market capitalization of $1.30 billion, a P/E ratio of 10.81 and a beta of 1.22.

SilverCrest Metals (NYSEAMERICAN:SILV) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11. The company had revenue of $63.65 million for the quarter. SilverCrest Metals had a return on equity of 33.11% and a net margin of 47.62%. As a group, sell-side analysts anticipate that SilverCrest Metals Inc. will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. purchased a new position in SilverCrest Metals during the 4th quarter worth approximately $6,799,000. Sprott Inc. grew its position in SilverCrest Metals by 8.4% during the 3rd quarter. Sprott Inc. now owns 9,347,721 shares of the company’s stock worth $44,618,000 after purchasing an additional 722,417 shares in the last quarter. U S Global Investors Inc. grew its position in SilverCrest Metals by 418.2% during the 4th quarter. U S Global Investors Inc. now owns 285,000 shares of the company’s stock worth $1,870,000 after purchasing an additional 230,000 shares in the last quarter. Mackenzie Financial Corp grew its position in SilverCrest Metals by 28.4% during the 4th quarter. Mackenzie Financial Corp now owns 1,032,594 shares of the company’s stock worth $6,775,000 after purchasing an additional 228,642 shares in the last quarter. Finally, Triasima Portfolio Management inc. purchased a new position in shares of SilverCrest Metals during the 4th quarter valued at $1,440,000. Institutional investors own 44.75% of the company’s stock.

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.