SilverCrest Metals (NYSE:SILV) Trading Up 6.2% – Here’s Why

SilverCrest Metals Inc. (NYSE:SILV)’s stock price rose 6.2% during mid-day trading on Tuesday . The company traded as high as $10.11 and last traded at $10.07. Approximately 590,613 shares were traded during trading, a decline of 65% from the average daily volume of 1,710,582 shares. The stock had previously closed at $9.48.

Wall Street Analyst Weigh In

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 Down 3.6 %

The firm’s fifty day simple moving average is $9.97 and its 200-day simple moving average is $9.51. The firm has a market capitalization of $1.47 billion, a PE ratio of 17.33 and a beta of 1.20.

Institutional Trading of SilverCrest Metals

Several institutional investors have recently added to or reduced their stakes in SILV. Mackenzie Financial Corp raised its stake in shares of SilverCrest Metals by 137.4% in the second quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock worth $20,516,000 after purchasing an additional 1,452,622 shares during the last quarter. Van ECK Associates Corp increased its holdings in SilverCrest Metals by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock worth $130,564,000 after buying an additional 1,083,681 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in SilverCrest Metals in the 2nd quarter worth about $3,653,000. Renaissance Technologies LLC lifted its stake in SilverCrest Metals by 2,768.5% during the 2nd quarter. Renaissance Technologies LLC now owns 445,300 shares of the company’s stock valued at $3,629,000 after acquiring an additional 429,776 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in SilverCrest Metals by 44.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,144,326 shares of the company’s stock valued at $10,585,000 after acquiring an additional 350,294 shares during the period. 44.75% of the stock is currently owned by hedge funds and other institutional investors.

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.