SilverCrest Metals (NYSEMKT:SILV) Upgraded to Hold by Zacks Investment Research

SilverCrest Metals (NYSEMKT:SILVGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “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. “

SILV has been the subject of several other reports. Desjardins reaffirmed a “buy” rating on shares of SilverCrest Metals in a report on Monday, February 7th. Raymond James decreased their price objective on shares of SilverCrest Metals from C$15.00 to C$14.50 in a report on Tuesday, January 18th.

Shares of SilverCrest Metals stock opened at $9.70 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 18.00 and a quick ratio of 18.00. The stock has a market capitalization of $1.41 billion, a PE ratio of -60.63 and a beta of 0.91. The business has a 50-day moving average price of $8.94 and a 200-day moving average price of $8.30.

SilverCrest Metals (NYSEMKT:SILVGet Rating) last issued its earnings results on Friday, March 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. On average, research analysts forecast that SilverCrest Metals will post 0.1 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in SILV. Sprott Inc. increased its holdings in SilverCrest Metals by 8.0% during the fourth quarter. Sprott Inc. now owns 7,431,912 shares of the company’s stock valued at $58,806,000 after buying an additional 547,818 shares during the last quarter. Gabelli Funds LLC increased its holdings in SilverCrest Metals by 102.9% during the fourth quarter. Gabelli Funds LLC now owns 913,000 shares of the company’s stock valued at $7,222,000 after buying an additional 463,000 shares during the last quarter. National Bank of Canada FI purchased a new stake in SilverCrest Metals during the fourth quarter valued at approximately $2,647,000. Sun Valley Gold LLC boosted its position in shares of SilverCrest Metals by 23.9% in the fourth quarter. Sun Valley Gold LLC now owns 1,592,284 shares of the company’s stock worth $12,601,000 after purchasing an additional 307,000 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of SilverCrest Metals by 3.5% in the third quarter. Van ECK Associates Corp now owns 7,817,085 shares of the company’s stock worth $54,563,000 after purchasing an additional 263,129 shares during the period. 40.92% of the stock is owned by institutional investors and hedge funds.

About SilverCrest Metals (Get Rating)

SilverCrest Metals Inc explores for and develops precious metal properties in Mexico. The company primarily explores for silver and gold properties. Its principal property includes the Las Chispas project that consists of 28 concessions totaling of approximately 1,401 hectares located in Sonora, Mexico.

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