SilverCrest Metals (NYSE:SILV) Shares Up 8.2% – Should You Buy?

SilverCrest Metals Inc. (NYSE:SILV) rose 8.2% during 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 trading, a decline of 21% from the average daily volume of 1,556,256 shares. The stock had previously closed at $10.19.

Analyst Upgrades and Downgrades

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

SilverCrest Metals Price Performance

The business has a fifty day moving average of $9.97 and a 200-day moving average of $9.60. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.42 and a beta of 1.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SILV. CIBC Asset Management Inc boosted its stake in shares of SilverCrest Metals by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 216,554 shares of the company’s stock worth $1,971,000 after acquiring an additional 1,296 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of SilverCrest Metals by 27.4% during the fourth quarter. Blue Trust Inc. now owns 6,522 shares of the company’s stock valued at $60,000 after purchasing an additional 1,402 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of SilverCrest Metals by 6.9% in the 3rd quarter. Townsquare Capital LLC now owns 23,012 shares of the company’s stock valued at $213,000 after purchasing an additional 1,477 shares during the period. Allspring Global Investments Holdings LLC increased its stake in SilverCrest Metals by 1.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,300 shares of the company’s stock worth $2,699,000 after purchasing an additional 3,400 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in SilverCrest Metals by 3.5% during the 2nd quarter. NewEdge Advisors LLC now owns 145,375 shares of the company’s stock worth $1,185,000 after buying an additional 4,957 shares during the period. Institutional investors and hedge funds 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.