SilverCrest Metals (NYSE:SILV) Shares Gap Down – Time to Sell?

SilverCrest Metals Inc. (NYSE:SILV)’s share price gapped down prior to trading on Monday . The stock had previously closed at $10.17, but opened at $9.73. SilverCrest Metals shares last traded at $9.80, with a volume of 319,704 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SILV shares. Scotiabank raised 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 report on Monday, August 19th. 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 Up 7.7 %

The stock’s 50 day moving average is $10.17 and its two-hundred day moving average is $9.20. The company has a market capitalization of $1.56 billion, a PE ratio of 18.46 and a beta of 1.19.

Hedge Funds Weigh In On SilverCrest Metals

A number of large investors have recently bought and sold shares of SILV. Allspring Global Investments Holdings LLC bought a new position in SilverCrest Metals in the second quarter worth about $2,467,000. Van ECK Associates Corp raised its stake in shares of SilverCrest Metals by 8.3% during the 3rd quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock worth $130,564,000 after acquiring an additional 1,083,681 shares in the last quarter. Fermata Advisors LLC purchased a new stake in SilverCrest Metals during the second quarter valued at approximately $99,000. Renaissance Technologies LLC boosted its stake in SilverCrest Metals by 2,768.5% in the second 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 in the last quarter. Finally, TD Asset Management Inc grew its holdings in SilverCrest Metals by 16.4% in the second quarter. TD Asset Management Inc now owns 2,113,126 shares of the company’s stock worth $17,265,000 after purchasing an additional 297,365 shares during the last quarter. Institutional investors 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.