Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in SilverCrest Metals Inc. (NYSEAMERICAN:SILV)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of SilverCrest Metals Inc. (NYSEAMERICAN:SILV) by 24.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,102 shares of the company’s stock after selling 9,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SilverCrest Metals were worth $185,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SILV. Mackenzie Financial Corp grew its stake in shares of SilverCrest Metals by 28.4% during the 4th quarter. Mackenzie Financial Corp now owns 1,032,594 shares of the company’s stock worth $6,775,000 after acquiring an additional 228,642 shares during the period. Triasima Portfolio Management inc. bought a new stake in shares of SilverCrest Metals in the fourth quarter valued at approximately $1,440,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of SilverCrest Metals by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,739,485 shares of the company’s stock valued at $24,644,000 after buying an additional 85,060 shares in the last quarter. U S Global Investors Inc. lifted its stake in shares of SilverCrest Metals by 418.2% during the 4th quarter. U S Global Investors Inc. now owns 285,000 shares of the company’s stock valued at $1,870,000 after buying an additional 230,000 shares in the last quarter. Finally, Cutler Group LLC CA boosted its holdings in SilverCrest Metals by 63.8% in the 4th quarter. Cutler Group LLC CA now owns 22,545 shares of the company’s stock worth $147,000 after buying an additional 8,785 shares during the period. Institutional investors own 44.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SILV. Scotiabank increased their target price on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a research report on Monday, April 8th. Desjardins cut SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

SilverCrest Metals Stock Performance

NYSEAMERICAN SILV opened at $8.33 on Wednesday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.68 and a beta of 1.22. SilverCrest Metals Inc. has a 1 year low of $4.16 and a 1 year high of $8.68.

SilverCrest Metals (NYSEAMERICAN:SILV) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 33.11% and a net margin of 47.62%. As a group, research analysts forecast that SilverCrest Metals Inc. will post 0.54 EPS for the current fiscal year.

SilverCrest Metals Company Profile

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.