Allspring Global Investments Holdings LLC Makes New Investment in SilverCrest Metals Inc. (NYSE:SILV)

Allspring Global Investments Holdings LLC acquired a new position in SilverCrest Metals Inc. (NYSE:SILV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 302,000 shares of the company's stock, valued at approximately $2,467,000. Allspring Global Investments Holdings LLC owned about 0.20% of SilverCrest Metals at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SILV. Mather Group LLC. purchased a new position in shares of SilverCrest Metals in the second quarter worth approximately $28,000. Perritt Capital Management Inc. purchased a new position in SilverCrest Metals during the first quarter valued at approximately $52,000. Fermata Advisors LLC purchased a new position in SilverCrest Metals during the second quarter valued at approximately $99,000. Cambridge Trust Co. lifted its holdings in SilverCrest Metals by 225.5% during the first quarter. Cambridge Trust Co. now owns 28,257 shares of the company's stock valued at $188,000 after purchasing an additional 19,577 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new position in SilverCrest Metals during the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 44.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SILV. Stifel Nicolaus lifted their price target on shares of SilverCrest Metals from $9.75 to $11.25 and gave the company a "buy" rating in a report on Wednesday, May 15th. Scotiabank lifted their price target on shares of SilverCrest Metals from $8.50 to $9.00 and gave the company a "sector perform" rating in a report on Monday, August 19th.

SilverCrest Metals Stock Down 4.7 %

Shares of SilverCrest Metals stock traded down $0.39 on Tuesday, hitting $7.88. 1,767,039 shares of the company traded hands, compared to its average volume of 1,521,224. The firm has a market cap of $1.17 billion, a PE ratio of 9.49 and a beta of 1.22. SilverCrest Metals Inc. has a 52 week low of $4.26 and a 52 week high of $10.27. The company's 50-day moving average price is $8.78.

SilverCrest Metals (NYSE:SILV - Get Free Report) last released its quarterly earnings data 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 company 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%. As a group, research analysts anticipate that SilverCrest Metals Inc. will post 0.65 earnings per share for the current year.

SilverCrest Metals Company Profile

SilverCrest Metals Inc focuses on the acquisition, exploration, advancement and development of base mineral and precious metals properties primarily in Mexico. The company's properties consist of Las Chispas property. SilverCrest Metals Inc is headquartered in Vancouver, BC.