SilverCrest Metals (NYSE:SILV) Trading 3.6% Higher – Here’s Why

Shares of SilverCrest Metals Inc. (NYSE:SILV) traded up 3.6% during trading on Wednesday . The stock traded as high as $10.08 and last traded at $10.06. 1,154,997 shares were traded during trading, a decline of 32% from the average session volume of 1,686,156 shares. The stock had previously closed at $9.71.

Analyst Upgrades and Downgrades

Separately, Ventum Cap Mkts downgraded 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 4.7 %

The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 17.84 and a beta of 1.20. The stock has a 50 day simple moving average of $9.96 and a 200 day simple moving average of $9.44.

Institutional Investors Weigh In On SilverCrest Metals

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank grew its stake 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 purchasing an additional 1,225 shares during the period. Blue Trust Inc. grew its stake in SilverCrest Metals by 194.1% in the 3rd quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock valued at $47,000 after buying an additional 3,379 shares in the last quarter. Eastern Bank purchased a new position in shares of SilverCrest Metals in the third quarter valued at $88,000. D.A. Davidson & CO. bought a new stake in shares of SilverCrest Metals during the third quarter valued at about $92,000. Finally, Austin Private Wealth LLC bought a new stake in SilverCrest Metals during the 3rd quarter worth approximately $94,000. Institutional investors and hedge funds own 44.75% of the company’s stock.

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.