1832 Asset Management L.P. Sells 430,000 Shares of SilverCrest Metals Inc. (NYSEMKT:SILV)

1832 Asset Management L.P. trimmed its position in SilverCrest Metals Inc. (NYSEMKT:SILV) by 33.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 870,000 shares of the company’s stock after selling 430,000 shares during the period. 1832 Asset Management L.P. owned approximately 0.59% of SilverCrest Metals worth $5,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. U S Global Investors Inc. boosted its stake in SilverCrest Metals by 138.8% during the 1st quarter. U S Global Investors Inc. now owns 680,600 shares of the company’s stock valued at $4,535,000 after purchasing an additional 395,600 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in shares of SilverCrest Metals in the 1st quarter worth approximately $107,000. Commonwealth Equity Services LLC boosted its stake in shares of SilverCrest Metals by 7.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 86,675 shares of the company’s stock worth $577,000 after buying an additional 6,228 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of SilverCrest Metals by 5.5% in the 1st quarter. Van ECK Associates Corp now owns 15,668,966 shares of the company’s stock worth $104,355,000 after buying an additional 819,929 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SilverCrest Metals by 3.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,880,342 shares of the company’s stock worth $27,388,000 after buying an additional 140,857 shares during the last quarter. 44.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Scotiabank boosted their target price on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research note on Monday, April 8th.

SilverCrest Metals Price Performance

SILV stock traded up $0.08 during midday trading on Friday, reaching $9.14. 827,779 shares of the company’s stock traded hands, compared to its average volume of 1,423,583. The firm has a 50 day moving average price of $8.75 and a 200-day moving average price of $7.34. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 11.01 and a beta of 1.20.

SilverCrest Metals 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.