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

SilverCrest Metals Inc. (NYSE:SILV)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $9.57, but opened at $10.00. SilverCrest Metals shares last traded at $10.22, with a volume of 507,943 shares trading hands.

Analysts Set New Price Targets

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

SilverCrest Metals Price Performance

The firm has a market capitalization of $1.55 billion, a P/E ratio of 18.26 and a beta of 1.21. The stock’s fifty day moving average is $9.88.

Institutional Investors Weigh In On SilverCrest Metals

A number of institutional investors have recently added to or reduced their stakes in SILV. Geode Capital Management LLC increased its stake in shares of SilverCrest Metals by 7.9% during the third quarter. Geode Capital Management LLC now owns 71,022 shares of the company’s stock worth $662,000 after purchasing an additional 5,227 shares in the last quarter. Barclays PLC lifted its position in SilverCrest Metals by 360.0% during the third quarter. Barclays PLC now owns 39,714 shares of the company’s stock worth $367,000 after buying an additional 31,081 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in SilverCrest Metals during the third quarter worth $384,000. XTX Topco Ltd purchased a new stake in SilverCrest Metals in the 3rd quarter valued at $646,000. Finally, HighTower Advisors LLC grew its holdings in SilverCrest Metals by 65.4% in the 3rd quarter. HighTower Advisors LLC now owns 20,179 shares of the company’s stock valued at $187,000 after buying an additional 7,981 shares in the last quarter. Institutional investors and hedge funds own 44.75% of the company’s stock.

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.