SilverCrest Metals (NYSE:SILV) Trading Up 3.6% – Here’s What Happened

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

Analyst Ratings Changes

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

SilverCrest Metals Stock Down 2.3 %

The firm has a 50 day moving average of $9.95 and a 200 day moving average of $9.46. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 17.42 and a beta of 1.20.

Hedge Funds Weigh In On SilverCrest Metals

A number of large investors have recently made changes to their positions in SILV. Toronto Dominion Bank increased its stake 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 worth $35,000 after buying an additional 1,225 shares during the period. Blue Trust Inc. grew its holdings in SilverCrest Metals by 194.1% in the 3rd quarter. Blue Trust Inc. now owns 5,120 shares of the company’s stock worth $47,000 after acquiring an additional 3,379 shares during the last quarter. Eastern Bank purchased a new position in shares of SilverCrest Metals in the third quarter valued at about $88,000. D.A. Davidson & CO. bought a new position in shares of SilverCrest Metals during the third quarter valued at about $92,000. Finally, Austin Private Wealth LLC purchased a new stake in shares of SilverCrest Metals during the third quarter worth about $94,000. 44.75% of the stock is owned by institutional investors.

About SilverCrest Metals

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.