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

SilverCrest Metals Inc. (NYSE:SILV) shares gapped down prior to trading on Monday . The stock had previously closed at $10.17, but opened at $9.73. SilverCrest Metals shares last traded at $9.80, with a volume of 319,704 shares.

Wall Street Analyst Weigh In

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

SilverCrest Metals Price Performance

The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 17.28 and a beta of 1.21. The business’s 50-day simple moving average is $10.14 and its two-hundred day simple moving average is $9.19.

Institutional Investors Weigh In On SilverCrest Metals

A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of SilverCrest Metals by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 14,114,981 shares of the company’s stock worth $130,564,000 after buying an additional 1,083,681 shares during the last quarter. Mackenzie Financial Corp lifted its position in SilverCrest Metals by 137.4% in the 2nd quarter. Mackenzie Financial Corp now owns 2,510,176 shares of the company’s stock valued at $20,516,000 after purchasing an additional 1,452,622 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in SilverCrest Metals by 8.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,216,200 shares of the company’s stock valued at $20,563,000 after purchasing an additional 180,200 shares during the last quarter. TD Asset Management Inc lifted its position in SilverCrest Metals by 16.4% in the 2nd quarter. TD Asset Management Inc now owns 2,113,126 shares of the company’s stock valued at $17,265,000 after purchasing an additional 297,365 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in SilverCrest Metals by 22.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,499 shares of the company’s stock valued at $11,529,000 after purchasing an additional 262,568 shares during the last quarter. 44.75% of the stock is owned by institutional investors and hedge funds.

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.