SilverCrest Metals (NYSE:SILV) Hits New 12-Month High – What’s Next?

SilverCrest Metals Inc. (NYSE:SILV)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.64 and last traded at $10.61, with a volume of 102444 shares trading hands. The stock had previously closed at $10.32.

Wall Street Analysts Forecast Growth

SILV has been the subject of several analyst reports. Scotiabank raised their target price on SilverCrest Metals from $8.50 to $9.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Ventum Cap Mkts cut shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th.

SilverCrest Metals Price Performance

The company has a market cap of $1.59 billion, a P/E ratio of 12.44 and a beta of 1.23. The firm has a 50-day moving average of $8.90.

SilverCrest Metals (NYSE:SILV) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). The company had revenue of $72.74 million for the quarter. SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. Analysts expect that SilverCrest Metals Inc. will post 0.59 EPS for the current fiscal year.

Institutional Trading of SilverCrest Metals

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in shares of SilverCrest Metals by 5,624.4% during the 1st quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock valued at $28,991,000 after purchasing an additional 4,276,888 shares during the last quarter. Mackenzie Financial Corp grew 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 last quarter. TD Asset Management Inc increased its holdings in shares of SilverCrest Metals by 16.4% in the second quarter. TD Asset Management Inc now owns 2,113,126 shares of the company’s stock worth $17,265,000 after buying an additional 297,365 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of SilverCrest Metals by 22.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,499 shares of the company’s stock valued at $11,529,000 after acquiring an additional 262,568 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in SilverCrest Metals by 12.1% during the 2nd quarter. National Bank of Canada FI now owns 452,013 shares of the company’s stock valued at $3,614,000 after acquiring an additional 48,717 shares during the period. 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.