SilverCrest Metals (NYSE:SILV) Lowered to Sector Perform at Scotiabank

SilverCrest Metals (NYSE:SILV) was downgraded by equities research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports.

Separately, Stifel Nicolaus increased their target price on SilverCrest Metals from $9.75 to $11.25 and gave the company a “buy” rating in a research report on Wednesday, May 15th.

SilverCrest Metals Stock Down 3.3 %

SilverCrest Metals stock opened at $8.84 on Thursday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.65 and a beta of 1.22. SilverCrest Metals has a 12 month low of $4.16 and a 12 month high of $9.52.

SilverCrest Metals (NYSE:SILV) last posted its earnings results on Monday, March 11th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. The firm had revenue of $61.32 million during the quarter. SilverCrest Metals had a return on equity of 32.01% and a net margin of 49.21%. On average, research analysts anticipate that SilverCrest Metals will post 0.69 EPS for the current year.

Institutional Investors Weigh In On SilverCrest Metals

Several large investors have recently added to or reduced their stakes in the business. Perritt Capital Management Inc. bought a new stake in SilverCrest Metals during the first quarter worth $52,000. B. Riley Wealth Advisors Inc. grew 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 in the last quarter. Finally, Tidal Investments LLC boosted its position in SilverCrest Metals by 5,624.4% in the first quarter. Tidal Investments LLC now owns 4,352,930 shares of the company’s stock worth $28,991,000 after purchasing an additional 4,276,888 shares during the last quarter. Institutional investors and hedge funds own 44.75% of the company’s stock.

SilverCrest Metals Company Profile

SilverCrest Metals Inc focuses on the acquisition, exploration, advancement and development of base mineral and precious metals properties primarily in Mexico. The company’s properties consist of Las Chispas property. SilverCrest Metals Inc is headquartered in Vancouver, BC.