BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 10,623 Shares of SilverCrest Metals Inc. (NYSE:SILV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of SilverCrest Metals Inc. (NYSE:SILV) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,076 shares of the company’s stock after selling 10,623 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in SilverCrest Metals were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp raised its position in SilverCrest Metals by 137.4% in the 2nd quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock worth $20,516,000 after buying an additional 1,452,622 shares during the last quarter. Van ECK Associates Corp lifted its position in SilverCrest Metals by 8.3% during the third quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock valued at $130,564,000 after purchasing an additional 1,083,681 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in SilverCrest Metals in the second quarter worth approximately $3,653,000. Renaissance Technologies LLC raised its stake in 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 buying an additional 429,776 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in SilverCrest Metals during the 2nd quarter valued at $2,467,000. 44.75% of the stock is owned by hedge funds and other institutional investors.

SilverCrest Metals Price Performance

Shares of SILV stock opened at $10.65 on Friday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 18.68 and a beta of 1.19. SilverCrest Metals Inc. has a 1 year low of $4.83 and a 1 year high of $11.91. The firm has a fifty day moving average price of $10.19 and a 200-day moving average price of $9.22.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Scotiabank lifted their price objective on SilverCrest Metals from $8.50 to $9.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Ventum Cap Mkts lowered shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th.

SilverCrest Metals 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.