SilverCrest Metals (NYSE:SILV) Trading 7.4% Higher – Here’s What Happened

SilverCrest Metals Inc. (NYSE:SILV)’s stock price shot up 7.4% during mid-day trading on Thursday . The stock traded as high as $9.89 and last traded at $9.77. 826,487 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,741,615 shares. The stock had previously closed at $9.10.

Wall Street Analysts Forecast Growth

Separately, Ventum Cap Mkts cut SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th.

SilverCrest Metals Trading Down 2.4 %

The stock has a market capitalization of $1.43 billion, a P/E ratio of 16.79 and a beta of 1.19. The business has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $9.40.

Institutional Investors Weigh In On SilverCrest Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of SILV. Mackenzie Financial Corp increased its stake in shares of SilverCrest Metals by 137.4% during the second quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock valued at $20,516,000 after buying an additional 1,452,622 shares during the period. Van ECK Associates Corp increased its holdings in shares of SilverCrest Metals by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock worth $130,564,000 after purchasing an additional 1,083,681 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in shares of SilverCrest Metals during the second quarter valued at approximately $3,653,000. Renaissance Technologies LLC increased its position in shares of SilverCrest Metals by 2,768.5% during the 2nd quarter. Renaissance Technologies LLC now owns 445,300 shares of the company’s stock valued at $3,629,000 after purchasing an additional 429,776 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of SilverCrest Metals by 44.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,144,326 shares of the company’s stock worth $10,585,000 after acquiring an additional 350,294 shares during the last quarter. Institutional investors own 44.75% of the company’s stock.

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.