SilverCrest Metals Target of Unusually High Options Trading (NYSE:SILV)

SilverCrest Metals Inc. (NYSE:SILV) was the recipient of some unusual options trading on Wednesday. Investors purchased 5,745 call options on the company. This is an increase of 168% compared to the average volume of 2,142 call options.

Institutional Investors Weigh In On SilverCrest Metals

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in SilverCrest Metals in the second quarter worth about $2,467,000. Fermata Advisors LLC purchased a new position in SilverCrest Metals in the second quarter worth about $99,000. Renaissance Technologies LLC boosted its position in SilverCrest Metals by 2,768.5% in the second quarter. Renaissance Technologies LLC now owns 445,300 shares of the company’s stock worth $3,629,000 after purchasing an additional 429,776 shares during the last quarter. TD Asset Management Inc boosted its position in SilverCrest Metals by 16.4% in the second quarter. TD Asset Management Inc now owns 2,113,126 shares of the company’s stock worth $17,265,000 after purchasing an additional 297,365 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new position in SilverCrest Metals in the second quarter worth about $213,000. 44.75% of the stock is owned by hedge funds and other institutional investors.

SilverCrest Metals Price Performance

Shares of NYSE:SILV opened at $11.53 on Thursday. SilverCrest Metals has a 1-year low of $4.79 and a 1-year high of $11.91. The firm’s fifty day moving average is $9.27. The company has a market capitalization of $1.71 billion, a P/E ratio of 13.89 and a beta of 1.23.

SilverCrest Metals (NYSE:SILV) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. The company had revenue of $72.74 million for the quarter. On average, analysts expect that SilverCrest Metals will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.