SilverCrest Metals (NYSE:SILV) Shares Up 7.4% - Still a Buy?

SilverCrest Metals Inc. (NYSE:SILV - Get Free Report) shares rose 7.4% during trading on Thursday . The stock traded as high as $9.89 and last traded at $9.77. Approximately 826,487 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,741,615 shares. The stock had previously closed at $9.10.

Analyst Upgrades and Downgrades

Separately, Ventum Cap Mkts lowered shares of SilverCrest Metals from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 4th.

SilverCrest Metals Stock Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of 17.21 and a beta of 1.19. The company has a 50-day simple moving average of $10.02 and a 200 day simple moving average of $9.39.

Institutional Trading of SilverCrest Metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of SilverCrest Metals by 44.1% during the third quarter. JPMorgan Chase & Co. now owns 1,144,326 shares of the company's stock valued at $10,585,000 after buying an additional 350,294 shares during the last quarter. Synovus Financial Corp acquired a new position in SilverCrest Metals in the 3rd quarter valued at approximately $128,000. Virtu Financial LLC bought a new stake in shares of SilverCrest Metals in the 3rd quarter worth approximately $95,000. Barclays PLC grew its holdings in shares of SilverCrest Metals by 360.0% during the 3rd quarter. Barclays PLC now owns 39,714 shares of the company's stock worth $367,000 after purchasing an additional 31,081 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of SilverCrest Metals by 203.4% during the third quarter. Toronto Dominion Bank now owns 12,847 shares of the company's stock valued at $119,000 after purchasing an additional 8,613 shares during the period. 44.75% of the stock is currently owned by institutional investors and hedge funds.

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.