SilverCrest Metals (NYSE:SILV) Shares Gap Down – Should You Sell?

SilverCrest Metals Inc. (NYSE:SILV)’s share price gapped down before the market opened on Monday . The stock had previously closed at $10.31, but opened at $9.87. SilverCrest Metals shares last traded at $9.88, with a volume of 101,694 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SILV. Scotiabank lifted their target price on shares of SilverCrest Metals from $8.50 to $9.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Ventum Cap Mkts lowered shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th.

SilverCrest Metals Trading Down 4.6 %

The business has a fifty day moving average price of $10.07 and a two-hundred day moving average price of $9.08. The firm has a market capitalization of $1.46 billion, a PE ratio of 17.33 and a beta of 1.21.

Institutional Investors Weigh In On SilverCrest Metals

Institutional investors and hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its position in shares of SilverCrest Metals by 12.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 63,990 shares of the company’s stock worth $426,000 after purchasing an additional 7,000 shares during the period. Tidal Investments LLC grew its stake in shares of SilverCrest Metals by 5,624.4% in the first quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock valued at $28,991,000 after buying an additional 4,276,888 shares in the last quarter. Cambridge Trust Co. raised its holdings in shares of SilverCrest Metals by 225.5% in the 1st quarter. Cambridge Trust Co. now owns 28,257 shares of the company’s stock valued at $188,000 after buying an additional 19,577 shares during the period. Mather Group LLC. acquired a new position in SilverCrest Metals during the 2nd quarter worth about $28,000. Finally, Fermata Advisors LLC purchased a new position in SilverCrest Metals during the 2nd quarter valued at about $99,000. 44.75% of the stock is 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.