National Bank of Canada FI Reduces Stock Position in SilverCrest Metals Inc. (NYSE:SILV)

National Bank of Canada FI cut its holdings in SilverCrest Metals Inc. (NYSE:SILV - Free Report) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 401,021 shares of the company's stock after selling 50,992 shares during the quarter. National Bank of Canada FI owned approximately 0.27% of SilverCrest Metals worth $3,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SILV. Mackenzie Financial Corp lifted its stake in shares of SilverCrest Metals by 137.4% during the 2nd 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 lifted its position in shares of SilverCrest Metals by 8.3% during the third quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company's stock valued at $130,564,000 after buying an additional 1,083,681 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in shares of SilverCrest Metals during the second quarter valued at about $3,653,000. Renaissance Technologies LLC boosted its holdings in shares of SilverCrest Metals by 2,768.5% in the 2nd quarter. Renaissance Technologies LLC now owns 445,300 shares of the company's stock valued at $3,629,000 after buying an additional 429,776 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of SilverCrest Metals in the 2nd quarter worth approximately $2,467,000. 44.75% of the stock is currently owned by institutional investors.

SilverCrest Metals Stock Down 4.3 %

Shares of SilverCrest Metals stock traded down $0.47 during midday trading on Friday, hitting $10.37. The company had a trading volume of 1,014,550 shares, compared to its average volume of 1,752,630. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 18.18 and a beta of 1.19. SilverCrest Metals Inc. has a 12-month low of $4.83 and a 12-month high of $11.91. The company has a fifty day simple moving average of $10.35 and a 200 day simple moving average of $9.29.

Wall Street Analysts Forecast Growth

SILV has been the subject of several recent analyst reports. Ventum Cap Mkts downgraded shares of SilverCrest Metals from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 4th. Scotiabank raised their price objective on SilverCrest Metals from $8.50 to $9.00 and gave the stock a "sector perform" rating in a research report on Monday, August 19th.

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.