SilverCrest Metals Inc. (NYSEAMERICAN:SILV) Sees Significant Drop in Short Interest

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,300,000 shares, a drop of 45.9% from the September 30th total of 4,250,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is currently 1.1 days.

SilverCrest Metals Price Performance

SILV traded down $0.45 during midday trading on Friday, hitting $10.83. The stock had a trading volume of 2,041,157 shares, compared to its average volume of 1,691,065. The firm has a market cap of $1.59 billion, a P/E ratio of 13.88 and a beta of 1.22. SilverCrest Metals has a 1 year low of $4.79 and a 1 year high of $11.91.

SilverCrest Metals (NYSEAMERICAN:SILV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.13). SilverCrest Metals had a net margin of 47.62% and a return on equity of 33.11%. The firm had revenue of $72.74 million for the quarter. On average, equities analysts anticipate that SilverCrest Metals will post 0.54 earnings per share for the current year.

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.