SilverCrest Metals (NYSEMKT:SILV) Trading Down 1.7% – What’s Next?

Shares of SilverCrest Metals Inc. (NYSEMKT:SILV) were down 1.7% on Wednesday . The company traded as low as $10.54 and last traded at $10.79. Approximately 1,445,534 shares changed hands during trading, an increase of 2% from the average daily volume of 1,423,583 shares. The stock had previously closed at $10.98.

SilverCrest Metals Price Performance

The stock has a 50 day simple moving average of $9.49 and a 200-day simple moving average of $8.89. The firm has a market cap of $1.60 billion, a PE ratio of 15.20 and a beta of 1.23.

Hedge Funds Weigh In On SilverCrest Metals

Several large investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co grew its position in SilverCrest Metals by 347.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 61,731 shares of the company’s stock valued at $411,000 after purchasing an additional 47,941 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of SilverCrest Metals by 121.4% during the first quarter. Jupiter Asset Management Ltd. now owns 4,670,354 shares of the company’s stock valued at $31,105,000 after buying an additional 2,561,190 shares during the last quarter. Fore Capital LLC purchased a new stake in shares of SilverCrest Metals during the first quarter valued at approximately $113,000. Oxbow Advisors LLC bought a new stake in shares of SilverCrest Metals during the first quarter valued at approximately $209,000. Finally, BNP Paribas Financial Markets purchased a new position in SilverCrest Metals in the 1st quarter worth approximately $599,000. Hedge funds and other 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.