Investors Purchase Large Volume of SilverCrest Metals Call Options (NYSE:SILV)

SilverCrest Metals Inc. (NYSE:SILV) saw unusually large options trading activity on Wednesday. Traders purchased 5,745 call options on the company. This is an increase of approximately 168% compared to the average volume of 2,142 call options.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Perritt Capital Management Inc. purchased a new stake in shares of SilverCrest Metals during the first quarter valued at $52,000. B. Riley Wealth Advisors Inc. lifted its holdings in SilverCrest Metals by 12.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 63,990 shares of the company’s stock worth $426,000 after buying an additional 7,000 shares during the period. Tidal Investments LLC boosted its position in SilverCrest Metals by 5,624.4% during the 1st quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock valued at $28,991,000 after acquiring an additional 4,276,888 shares in the last quarter. Cambridge Trust Co. increased its holdings in shares of SilverCrest Metals by 225.5% in the 1st quarter. Cambridge Trust Co. now owns 28,257 shares of the company’s stock valued at $188,000 after acquiring an additional 19,577 shares during the period. Finally, Mather Group LLC. purchased a new position in SilverCrest Metals in the second quarter valued at about $28,000. Hedge funds and other institutional investors own 44.75% of the company’s stock.

SilverCrest Metals Trading Down 2.8 %

Shares of NYSE:SILV traded down $0.33 on Wednesday, reaching $11.32. The company’s stock had a trading volume of 669,239 shares, compared to its average volume of 1,674,812. The business has a 50-day moving average price of $9.20. SilverCrest Metals has a 52-week low of $4.79 and a 52-week high of $11.91. The company has a market cap of $1.68 billion, a P/E ratio of 14.04 and a beta of 1.23.

SilverCrest Metals (NYSE:SILV) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). SilverCrest Metals had a return on equity of 25.66% and a net margin of 40.61%. The company had revenue of $72.74 million during the quarter. Equities research analysts predict that SilverCrest Metals will post 0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SILV shares. Scotiabank lifted their target price on SilverCrest Metals from $8.50 to $9.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Ventum Cap Mkts downgraded SilverCrest Metals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th.

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.