SilverCrest Metals (NYSE:SILV) Trading 10.1% Higher – Should You Buy?

SilverCrest Metals Inc. (NYSE:SILV) shares rose 10.1% during trading on Monday . The stock traded as high as $11.45 and last traded at $11.44. Approximately 615,522 shares traded hands during trading, a decline of 65% from the average daily volume of 1,741,364 shares. The stock had previously closed at $10.39.

Wall Street Analyst Weigh In

SILV has been the topic of a number of recent research reports. Ventum Cap Mkts downgraded shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Scotiabank raised their target price on SilverCrest Metals from $8.50 to $9.00 and gave the company a “sector perform” rating in a report on Monday, August 19th.

SilverCrest Metals Trading Down 1.3 %

The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 19.28 and a beta of 1.19. The company has a fifty day moving average of $10.24 and a two-hundred day moving average of $9.25.

Institutional Trading of SilverCrest Metals

A number of institutional investors and hedge funds have recently modified their holdings of SILV. Baader Bank Aktiengesellschaft bought a new position in shares of SilverCrest Metals in the second quarter worth about $213,000. Corundum Trust Company INC bought a new position in SilverCrest Metals in the 2nd quarter worth approximately $363,000. Allspring Global Investments Holdings LLC bought a new position in SilverCrest Metals in the 2nd quarter worth approximately $2,467,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of SilverCrest Metals by 6.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 139,726 shares of the company’s stock worth $1,139,000 after buying an additional 8,182 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of SilverCrest Metals by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 89,419 shares of the company’s stock valued at $729,000 after acquiring an additional 2,744 shares during the period. 44.75% of the stock is currently owned by institutional investors and hedge funds.

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.