SilverCrest Metals (CVE:SIL) Trading Down 0.5% – Time to Sell?

SilverCrest Metals Inc (CVE:SIL)’s stock price dropped 0.5% during trading on Monday . The company traded as low as C$8.08 and last traded at C$8.52. Approximately 246,455 shares changed hands during trading, an increase of 58% from the average daily volume of 156,209 shares. The stock had previously closed at C$8.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Cormark boosted their target price on SilverCrest Metals from C$13.75 to C$14.00 in a research report on Monday, July 15th. Raymond James boosted their target price on shares of SilverCrest Metals from C$11.50 to C$15.00 in a research note on Thursday, August 1st. BMO Capital Markets raised their target price on SilverCrest Metals from C$13.25 to C$14.25 in a research report on Monday, July 15th. Stifel Nicolaus lowered their price target on SilverCrest Metals from C$12.50 to C$11.50 in a report on Thursday, August 8th. Finally, Ventum Financial downgraded SilverCrest Metals from a “buy” rating to a “neutral” rating and increased their price objective for the stock from C$13.45 to C$15.50 in a research note on Monday, October 7th.

SilverCrest Metals Price Performance

The company has a current ratio of 5.50, a quick ratio of 5.43 and a debt-to-equity ratio of 0.74. The company has a market capitalization of C$1.25 billion and a price-to-earnings ratio of -83.53. The company has a 50 day moving average price of C$8.52 and a 200 day moving average price of C$8.52.

SilverCrest Metals Company Profile

SilverCrest Metals Inc acquires, explores for, and develops precious metal properties in Mexico. It primarily explores for silver and gold properties. The company's principal property is the Las Chispas project that consists of 28 concessions totaling approximately 1,401 hectares located in Sonora, Mexico.