CIBC Asset Management Inc lifted its stake in SilverCrest Metals Inc. (NASDAQ:SILV) by 700.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,220 shares of the company’s stock after acquiring an additional 175,220 shares during the period. CIBC Asset Management Inc owned approximately 0.16% of SilverCrest Metals worth $1,830,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in SILV. Van ECK Associates Corp acquired a new stake in shares of SilverCrest Metals in the first quarter worth $25,712,000. Waratah Capital Advisors Ltd. lifted its position in SilverCrest Metals by 1,003.3% in the first quarter. Waratah Capital Advisors Ltd. now owns 1,783,961 shares of the company’s stock worth $9,179,000 after purchasing an additional 1,622,267 shares during the period. Royal Bank of Canada lifted its position in SilverCrest Metals by 35.5% in the first quarter. Royal Bank of Canada now owns 3,080,812 shares of the company’s stock worth $16,081,000 after purchasing an additional 807,706 shares during the period. Morgan Stanley lifted its position in SilverCrest Metals by 103.4% in the first quarter. Morgan Stanley now owns 568,104 shares of the company’s stock worth $2,966,000 after purchasing an additional 288,836 shares during the period. Finally, Renaissance Technologies LLC bought a new position in SilverCrest Metals in the fourth quarter worth $1,757,000.
Several research analysts recently commented on SILV shares. BidaskClub cut SilverCrest Metals from a “buy” rating to a “hold” rating in a research report on Friday, May 15th. Zacks Investment Research cut SilverCrest Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $11.00 target price on shares of SilverCrest Metals in a research report on Thursday, April 30th. Stifel Nicolaus started coverage on SilverCrest Metals in a report on Monday, July 6th. They set a “hold” rating and a $12.00 price objective for the company. Finally, B. Riley lifted their price objective on SilverCrest Metals from $10.80 to $11.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.33.
Shares of NASDAQ SILV opened at $9.98 on Friday. The business has a fifty day moving average of $9.06 and a two-hundred day moving average of $7.29. SilverCrest Metals Inc. has a 52-week low of $3.28 and a 52-week high of $11.12.
SilverCrest Metals (NASDAQ:SILV) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03).
SilverCrest Metals Profile
SilverCrest Metals Inc engages in the acquisition, exploration, and development of precious metal properties. It primarily explores for silver and gold properties. The company's principal property is the Las Chispas project that consists of 27 concessions totaling approximately 1,389 hectares located in Sonora, Mexico.
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