SilverCrest Metals (NYSE:SILV) Hits New 12-Month High – Still a Buy?

SilverCrest Metals Inc. (NYSE:SILV) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $11.97 and last traded at $11.96, with a volume of 1752969 shares changing hands. The stock had previously closed at $11.22.

SilverCrest Metals Trading Up 3.7 %

The stock has a 50-day moving average price of $10.12 and a two-hundred day moving average price of $9.68. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 20.42 and a beta of 1.21.

Institutional Trading of SilverCrest Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of SilverCrest Metals by 44.1% during the third quarter. JPMorgan Chase & Co. now owns 1,144,326 shares of the company’s stock worth $10,585,000 after purchasing an additional 350,294 shares in the last quarter. Van ECK Associates Corp lifted its position in SilverCrest Metals by 8.3% in the third quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock valued at $130,564,000 after buying an additional 1,083,681 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in SilverCrest Metals by 35.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 403,574 shares of the company’s stock valued at $3,749,000 after purchasing an additional 106,539 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of SilverCrest Metals by 46.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 215,321 shares of the company’s stock valued at $1,992,000 after buying an additional 67,966 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in SilverCrest Metals by 65.4% during the 3rd quarter. HighTower Advisors LLC now owns 20,179 shares of the company’s stock worth $187,000 after buying an additional 7,981 shares in the last quarter. Institutional investors and hedge funds 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.