SilverCrest Metals (NYSE:SILV) Trading 8.2% Higher – Time to Buy?

SilverCrest Metals Inc. (NYSE:SILV)’s share price rose 8.2% during mid-day trading on Thursday . The company traded as high as $11.06 and last traded at $11.03. Approximately 1,235,943 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 1,556,256 shares. The stock had previously closed at $10.19.

Analyst Ratings Changes

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

SilverCrest Metals Stock Performance

The company has a 50-day moving average price of $9.96 and a 200-day moving average price of $9.58. The firm has a market capitalization of $1.63 billion, a P/E ratio of 19.19 and a beta of 1.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SILV. Toronto Dominion Bank grew its holdings in shares of SilverCrest Metals by 40.7% in the 2nd quarter. Toronto Dominion Bank now owns 4,234 shares of the company’s stock valued at $35,000 after buying an additional 1,225 shares during the period. Blue Trust Inc. grew its stake in SilverCrest Metals by 194.1% in the third quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock valued at $47,000 after acquiring an additional 3,379 shares during the period. Eastern Bank acquired a new position in SilverCrest Metals in the third quarter valued at about $88,000. D.A. Davidson & CO. acquired a new stake in shares of SilverCrest Metals during the third quarter worth about $92,000. Finally, Austin Private Wealth LLC bought a new position in shares of SilverCrest Metals during the 3rd quarter valued at about $94,000. Institutional investors own 44.75% of the company’s stock.

SilverCrest Metals Company 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.