Van ECK Associates Corp Increases Stock Position in SilverCrest Metals Inc. (NYSE:SILV)

Van ECK Associates Corp boosted its position in shares of SilverCrest Metals Inc. (NYSE:SILV - Free Report) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,114,981 shares of the company's stock after buying an additional 1,083,681 shares during the period. Van ECK Associates Corp owned 9.49% of SilverCrest Metals worth $130,564,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Mather Group LLC. acquired a new stake in SilverCrest Metals in the 2nd quarter valued at about $28,000. Toronto Dominion Bank grew its position in shares of SilverCrest Metals by 40.7% in the second quarter. Toronto Dominion Bank now owns 4,234 shares of the company's stock valued at $35,000 after purchasing an additional 1,225 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of SilverCrest Metals by 194.1% in the third quarter. Blue Trust Inc. now owns 5,120 shares of the company's stock valued at $47,000 after purchasing an additional 3,379 shares during the last quarter. Perritt Capital Management Inc. acquired a new stake in shares of SilverCrest Metals in the first quarter valued at approximately $52,000. Finally, Eastern Bank purchased a new position in SilverCrest Metals during the third quarter worth approximately $88,000. Institutional investors and hedge funds own 44.75% of the company's stock.

Wall Street Analysts Forecast Growth

SILV has been the topic of several analyst reports. Ventum Cap Mkts lowered SilverCrest Metals from a "strong-buy" rating to a "hold" rating in a report on Friday, October 4th. 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.

SilverCrest Metals Price Performance

NYSE:SILV traded down $0.42 during midday trading on Friday, reaching $9.75. The company had a trading volume of 1,753,751 shares, compared to its average volume of 3,323,521. SilverCrest Metals Inc. has a 12-month low of $4.79 and a 12-month high of $11.91. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 13.73 and a beta of 1.21. The business's fifty day simple moving average is $9.54.

SilverCrest Metals (NYSE:SILV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.13). The firm had revenue of $72.74 million during the quarter. SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. As a group, equities research analysts predict that SilverCrest Metals Inc. will post 0.59 earnings per share for the current fiscal year.

SilverCrest Metals 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.