SilverCrest Metals (NYSE:SILV) Shares Gap Down – Here’s Why

SilverCrest Metals Inc. (NYSE:SILV)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $10.31, but opened at $9.87. SilverCrest Metals shares last traded at $9.88, with a volume of 101,694 shares trading hands.

Analyst Ratings Changes

SILV has been the subject of a number of analyst reports. Ventum Cap Mkts downgraded shares of SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Scotiabank upped their price target on SilverCrest Metals from $8.50 to $9.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th.

SilverCrest Metals Price Performance

The company’s fifty day simple moving average is $10.07 and its 200-day simple moving average is $9.08. The firm has a market capitalization of $1.46 billion, a PE ratio of 17.33 and a beta of 1.21.

Institutional Investors Weigh In On SilverCrest Metals

Several institutional investors have recently bought and sold shares of SILV. Toronto Dominion Bank lifted 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 acquiring an additional 1,225 shares in the last quarter. Townsquare Capital LLC boosted its stake in SilverCrest Metals by 6.9% during the 3rd quarter. Townsquare Capital LLC now owns 23,012 shares of the company’s stock worth $213,000 after purchasing an additional 1,477 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of SilverCrest Metals by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 89,419 shares of the company’s stock worth $729,000 after buying an additional 2,744 shares in the last quarter. Blue Trust Inc. raised its position 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 buying an additional 3,379 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of SilverCrest Metals in the second quarter worth about $28,000. 44.75% of the stock is currently 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.