SilverCrest Metals (NYSE:SILV) Shares Up 6.5% - Still a Buy?

SilverCrest Metals Inc. (NYSE:SILV - Get Free Report) shares were up 6.5% during mid-day trading on Friday . The stock traded as high as $10.95 and last traded at $10.94. Approximately 1,107,849 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,644,311 shares. The stock had previously closed at $10.27.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SILV. Scotiabank boosted their price objective on 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 downgraded shares of SilverCrest Metals from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 4th.

SilverCrest Metals Trading Up 8.4 %

The stock has a market capitalization of $1.65 billion, a PE ratio of 13.37 and a beta of 1.23. The stock has a fifty day simple moving average of $9.00.

SilverCrest Metals (NYSE:SILV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.13). The firm had revenue of $72.74 million for the quarter. SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. On average, research analysts forecast that SilverCrest Metals Inc. will post 0.59 EPS for the current year.

Hedge Funds Weigh In On SilverCrest Metals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. bought a new position in SilverCrest Metals during the 2nd quarter worth approximately $28,000. Toronto Dominion Bank increased its position in shares of SilverCrest Metals by 40.7% in the 2nd quarter. Toronto Dominion Bank now owns 4,234 shares of the company's stock valued at $35,000 after buying an additional 1,225 shares in the last quarter. Blue Trust Inc. raised its stake in SilverCrest Metals by 194.1% during the 3rd quarter. Blue Trust Inc. now owns 5,120 shares of the company's stock worth $47,000 after buying an additional 3,379 shares during the period. Perritt Capital Management Inc. acquired a new stake in SilverCrest Metals during the 1st quarter worth $52,000. Finally, Fermata Advisors LLC bought a new position in SilverCrest Metals during the second quarter worth about $99,000. 44.75% of the stock is owned by 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.