SilverCrest Metals (NYSE:SILV) Shares Gap Up – Here’s What Happened

SilverCrest Metals Inc. (NYSE:SILV) shares gapped up before the market opened on Monday . The stock had previously closed at $9.57, but opened at $10.00. SilverCrest Metals shares last traded at $10.22, with a volume of 507,943 shares.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SILV. Scotiabank boosted their price target on shares of SilverCrest Metals from $8.50 to $9.00 and gave the company 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 Stock Up 1.5 %

The stock has a market cap of $1.55 billion, a PE ratio of 18.30 and a beta of 1.21. The business’s 50-day moving average price is $9.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SILV. Mather Group LLC. bought a new position in shares of SilverCrest Metals in the second quarter valued at about $28,000. Toronto Dominion Bank increased its position in 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 acquiring an additional 1,225 shares in the last quarter. Blue Trust Inc. raised its stake in shares of SilverCrest Metals by 194.1% in the third quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock worth $47,000 after acquiring an additional 3,379 shares during the last quarter. Perritt Capital Management Inc. acquired a new position in shares of SilverCrest Metals during the first quarter worth approximately $52,000. Finally, Eastern Bank bought a new stake in shares of SilverCrest Metals during the third quarter valued at approximately $88,000. 44.75% of the stock is 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.