SilverCrest Metals (SILV) Rating Lowered to Hold at Zacks Investment Research

SilverCrest Metals (NASDAQ:SILV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, 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 a number of other reports. Canaccord Genuity restated a “buy” rating on shares of SilverCrest Metals in a research report on Friday, April 26th. Macquarie restated a “buy” rating on shares of SilverCrest Metals in a research report on Tuesday, February 26th. Finally, BMO Capital Markets assumed coverage on SilverCrest Metals in a research report on Wednesday, February 13th. They issued an “outperform” rating and a $3.63 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $3.82.

Shares of SILV opened at $3.59 on Wednesday. SilverCrest Metals has a 52-week low of $1.71 and a 52-week high of $3.89.

A number of hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its stake in SilverCrest Metals by 51.1% in the first quarter. Neuberger Berman Group LLC now owns 23,200 shares of the company’s stock worth $76,000 after purchasing an additional 7,850 shares during the period. Raymond James & Associates increased its stake in SilverCrest Metals by 72.0% in the first quarter. Raymond James & Associates now owns 22,674 shares of the company’s stock worth $74,000 after purchasing an additional 9,490 shares during the period. Arete Wealth Advisors LLC purchased a new stake in SilverCrest Metals in the fourth quarter worth $30,000. 9258 Wealth Management LLC purchased a new stake in SilverCrest Metals in the first quarter worth $66,000. Finally, CIBC World Markets Inc. increased its stake in SilverCrest Metals by 178.8% in the first quarter. CIBC World Markets Inc. now owns 60,505 shares of the company’s stock worth $198,000 after purchasing an additional 38,805 shares during the period.

SilverCrest Metals Company 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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