SilverCrest Metals (NYSE:SILV) Trading Up 3.6% – Still a Buy?

SilverCrest Metals Inc. (NYSE:SILV) shares were up 3.6% during trading on Wednesday . The company traded as high as $10.08 and last traded at $10.06. Approximately 1,154,997 shares changed hands during trading, a decline of 32% from the average daily volume of 1,686,156 shares. The stock had previously closed at $9.71.

Analyst Upgrades and Downgrades

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

SilverCrest Metals Trading Up 4.7 %

The company has a 50 day simple moving average of $9.96 and a 200-day simple moving average of $9.44. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 17.84 and a beta of 1.20.

Institutional Investors Weigh In On SilverCrest Metals

Institutional investors have recently modified their holdings of the business. Toronto Dominion Bank lifted its stake 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 acquiring an additional 1,225 shares during the last quarter. Blue Trust Inc. increased its position in SilverCrest Metals by 194.1% during the 3rd 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 period. Eastern Bank acquired a new position in shares of SilverCrest Metals in the 3rd quarter worth approximately $88,000. D.A. Davidson & CO. bought a new stake in shares of SilverCrest Metals in the 3rd quarter valued at $92,000. Finally, Austin Private Wealth LLC acquired a new stake in shares of SilverCrest Metals during the third quarter worth $94,000. Institutional investors own 44.75% of the company’s stock.

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.