Brokerages Set SilverCrest Metals Inc. (NASDAQ:SILV) Target Price at $7.00

Shares of SilverCrest Metals Inc. (NASDAQ:SILV) have received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $7.00.

A number of research firms have weighed in on SILV. Desjardins restated a “buy” rating on shares of SilverCrest Metals in a research note on Monday, August 26th. Zacks Investment Research cut SilverCrest Metals from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Roth Capital set a $7.00 target price on SilverCrest Metals and gave the stock a “buy” rating in a research report on Monday, August 26th. B. Riley initiated coverage on SilverCrest Metals in a research report on Thursday, October 31st. They set a “neutral” rating on the stock. Finally, National Bank Financial reiterated a “buy” rating on shares of SilverCrest Metals in a research report on Friday, August 16th.

Institutional investors and hedge funds have recently bought and sold shares of the company. Intact Investment Management Inc. increased its position in shares of SilverCrest Metals by 41.0% during the second quarter. Intact Investment Management Inc. now owns 423,000 shares of the company’s stock worth $2,178,000 after purchasing an additional 123,000 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of SilverCrest Metals during the third quarter worth about $130,000. Gilder Gagnon Howe & Co. LLC increased its position in shares of SilverCrest Metals by 5.4% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 5,336,074 shares of the company’s stock worth $27,801,000 after purchasing an additional 272,523 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of SilverCrest Metals during the second quarter worth about $32,000. Finally, ETF Managers Group LLC increased its position in shares of SilverCrest Metals by 7.5% during the second quarter. ETF Managers Group LLC now owns 459,305 shares of the company’s stock worth $1,816,000 after purchasing an additional 32,053 shares in the last quarter.

SilverCrest Metals stock traded down $0.21 during midday trading on Friday, reaching $6.11. The company’s stock had a trading volume of 767,200 shares, compared to its average volume of 180,328. SilverCrest Metals has a fifty-two week low of $2.25 and a fifty-two week high of $6.69. The business has a 50-day simple moving average of $5.73 and a 200-day simple moving average of $5.18.

About SilverCrest Metals

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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Analyst Recommendations for SilverCrest Metals (NASDAQ:SILV)

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