SilverCrest Metals (NYSE:SILV) Stock Price Up 7.4% – Should You Buy?

SilverCrest Metals Inc. (NYSE:SILV)’s share price shot up 7.4% during trading on Thursday . The stock traded as high as $9.89 and last traded at $9.77. 826,487 shares traded hands during trading, a decline of 53% from the average session volume of 1,741,615 shares. The stock had previously closed at $9.10.

Analyst Ratings Changes

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

SilverCrest Metals Stock Up 7.4 %

The stock has a market capitalization of $1.46 billion, a P/E ratio of 17.14 and a beta of 1.19. The firm’s 50 day simple moving average is $10.05 and its two-hundred day simple moving average is $9.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in SilverCrest Metals by 44.1% during the third quarter. JPMorgan Chase & Co. now owns 1,144,326 shares of the company’s stock worth $10,585,000 after buying an additional 350,294 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of SilverCrest Metals in the 3rd quarter worth about $128,000. Virtu Financial LLC acquired a new position in SilverCrest Metals during the 3rd quarter valued at about $95,000. Barclays PLC increased its holdings in SilverCrest Metals by 360.0% during the 3rd quarter. Barclays PLC now owns 39,714 shares of the company’s stock worth $367,000 after purchasing an additional 31,081 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in SilverCrest Metals by 203.4% during the 3rd quarter. Toronto Dominion Bank now owns 12,847 shares of the company’s stock worth $119,000 after purchasing an additional 8,613 shares in the last quarter. Institutional investors own 44.75% of the company’s stock.

About SilverCrest Metals

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.