SilverCrest Metals (NYSE:SILV) Stock Price Up 8.2% – What’s Next?

SilverCrest Metals Inc. (NYSE:SILV) shot up 8.2% during trading on Thursday . The stock traded as high as $11.06 and last traded at $11.03. 1,235,943 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 1,556,256 shares. The stock had previously closed at $10.19.

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 note on Friday, October 4th.

SilverCrest Metals Stock Down 4.0 %

The company has a market capitalization of $1.57 billion, a P/E ratio of 18.42 and a beta of 1.20. The business has a 50 day simple moving average of $9.97 and a 200-day simple moving average of $9.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings 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. Van ECK Associates Corp increased its position in SilverCrest Metals by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock valued at $130,564,000 after acquiring an additional 1,083,681 shares during the period. The Manufacturers Life Insurance Company boosted its position in SilverCrest Metals by 35.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 403,574 shares of the company’s stock worth $3,749,000 after acquiring an additional 106,539 shares during the period. BNP Paribas Financial Markets grew its stake in shares of SilverCrest Metals by 46.1% in the third quarter. BNP Paribas Financial Markets now owns 215,321 shares of the company’s stock worth $1,992,000 after purchasing an additional 67,966 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of SilverCrest Metals by 65.4% during the third quarter. HighTower Advisors LLC now owns 20,179 shares of the company’s stock valued at $187,000 after purchasing an additional 7,981 shares during the period. 44.75% of the stock is owned by institutional investors and hedge funds.

SilverCrest Metals Company 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.