SilverCrest Metals (NYSE:SILV) Trading Up 8.2% – Still a Buy?

Shares of SilverCrest Metals Inc. (NYSE:SILV) traded up 8.2% on Thursday . The stock traded as high as $11.06 and last traded at $11.03. 1,235,943 shares traded 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 cut SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th.

SilverCrest Metals Price Performance

The stock has a market capitalization of $1.63 billion, a P/E ratio of 19.19 and a beta of 1.20. The stock’s fifty day moving average is $9.96 and its 200-day moving average is $9.58.

Institutional Trading of SilverCrest Metals

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in SilverCrest Metals by 44.1% in the 3rd 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 holdings in shares of SilverCrest Metals by 8.3% during the 3rd quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock worth $130,564,000 after purchasing an additional 1,083,681 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of SilverCrest Metals by 35.9% in the third quarter. The Manufacturers Life Insurance Company now owns 403,574 shares of the company’s stock valued at $3,749,000 after buying an additional 106,539 shares during the period. BNP Paribas Financial Markets grew its position in SilverCrest Metals by 46.1% during the third quarter. BNP Paribas Financial Markets now owns 215,321 shares of the company’s stock worth $1,992,000 after buying an additional 67,966 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in 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 acquiring an additional 7,981 shares during the period. 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.