SilverCrest Metals Inc. (NYSEAMERICAN:SILV) Short Interest Update

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) was the target of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 6,660,000 shares, a drop of 21.1% from the May 15th total of 8,440,000 shares. Based on an average daily volume of 1,880,000 shares, the short-interest ratio is currently 3.5 days. Approximately 4.6% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Desjardins lowered SilverCrest Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Scotiabank upped their price target on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research report on Monday, April 8th.

SilverCrest Metals Trading Up 2.7 %

Shares of SILV stock traded up $0.21 during trading hours on Friday, hitting $8.12. The stock had a trading volume of 1,446,849 shares, compared to its average volume of 1,533,516. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.41 and a beta of 1.22. SilverCrest Metals has a one year low of $4.16 and a one year high of $9.52.

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

Hedge Funds Weigh In On SilverCrest Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of SilverCrest Metals by 1.2% during the 4th quarter. Van ECK Associates Corp now owns 14,849,037 shares of the company’s stock worth $97,261,000 after purchasing an additional 178,950 shares during the period. Sprott Inc. grew its stake in shares of SilverCrest Metals by 8.4% during the third quarter. Sprott Inc. now owns 9,347,721 shares of the company’s stock valued at $44,618,000 after buying an additional 722,417 shares during the last quarter. Invesco Ltd. grew its stake in shares of SilverCrest Metals by 0.9% during the third quarter. Invesco Ltd. now owns 4,732,026 shares of the company’s stock valued at $20,868,000 after buying an additional 42,589 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SilverCrest Metals by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,739,485 shares of the company’s stock worth $24,644,000 after buying an additional 85,060 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of SilverCrest Metals during the 4th quarter worth approximately $6,799,000. Hedge funds and other 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.