SilverCrest Metals (NYSE:SILV) Shares Gap Up – Still a Buy?

SilverCrest Metals Inc. (NYSE:SILV) shares gapped up before the market opened on Friday . The stock had previously closed at $9.96, but opened at $10.31. SilverCrest Metals shares last traded at $10.23, with a volume of 292,972 shares traded.

Wall Street Analyst Weigh In

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

SilverCrest Metals Trading Up 1.1 %

The stock has a market capitalization of $1.50 billion, a PE ratio of 17.67 and a beta of 1.20. The firm’s fifty day moving average price is $9.98 and its two-hundred day moving average price is $9.57.

Institutional Investors Weigh In On SilverCrest Metals

A number of institutional investors have recently modified their holdings of SILV. Mackenzie Financial Corp lifted its position in shares of SilverCrest Metals by 137.4% in the second quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock valued at $20,516,000 after acquiring an additional 1,452,622 shares in the last quarter. Van ECK Associates Corp raised its position in shares of SilverCrest Metals by 8.3% in the third quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock valued at $130,564,000 after buying an additional 1,083,681 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in shares of SilverCrest Metals in the second quarter worth about $3,653,000. Renaissance Technologies LLC boosted its position in SilverCrest Metals by 2,768.5% during the second quarter. Renaissance Technologies LLC now owns 445,300 shares of the company’s stock worth $3,629,000 after acquiring an additional 429,776 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in SilverCrest Metals by 44.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,144,326 shares of the company’s stock valued at $10,585,000 after acquiring an additional 350,294 shares in the last quarter. 44.75% of the stock is currently owned by institutional investors and hedge funds.

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.