Investors Actively Trade Call Options on SilverCrest Metals (NYSE:SILV)

On Wednesday, SilverCrest Metals Inc. (NYSE:SILV) experienced a significant surge in call options trading. Investors bought a total of 5,745 call options, which marks an impressive increase of about 168% over the average daily volume of 2,142 call options typically seen for the company's stock.

Recent Stock Performance

As of Friday, SilverCrest Metals stocks opened at $11.28. The stock has seen notable fluctuations over the past year, reaching a low of $4.79 and a high of $11.91. The company's fifty-day moving average stands at $9.27. SilverCrest Metals has a market capitalization of $1.68 billion, a price-to-earnings (P/E) ratio of 15.89, and a beta value of 1.23.

Earnings Results

SilverCrest Metals recently published its earnings report on August 7. The company posted earnings per share (EPS) of $0.04, falling short of analysts' expectations of $0.17 by a margin of $0.13. SilverCrest also reported a net margin of 40.61% and a return on equity of 25.66%. The revenue for the quarter totaled $72.74 million. Analysts estimate an average EPS of $0.59 for this fiscal year.

Analyst Recommendations

Recent reports from analysts have highlighted SilverCrest Metals (NYSE:SILV). Scotiabank raised its price target for the stock from $8.50 to $9.00, assigning it a “sector perform” rating in a report dated August 19. Conversely, Ventum Capital Markets downgraded the stock from a “strong-buy” to a “hold” rating as of October 4.

Institutional Holdings

Multiple institutional investors have altered their positions in SilverCrest Metals recently. Perritt Capital Management initiated a new stake in the company during the first quarter, investing $52,000. B. Riley Wealth Advisors lifted their shares in SilverCrest by 12.3%, bringing their total ownership to 63,990 shares valued at $426,000 after acquiring an additional 7,000 shares. Tidal Investments significantly increased their holdings by 5,624.4%, owning 4,352,930 shares worth $28,991,000 after adding 4,276,888 shares. Additionally, Cambridge Trust Co. raised its stake by 225.5%, owning 28,257 shares valued at $188,000, while Mather Group acquired a new position in the second quarter worth $28,000. The total institutional ownership stands at approximately 44.75% of company shares.

About SilverCrest Metals

SilverCrest Metals Inc. specializes in acquiring, exploring, and developing precious metal properties in Mexico. The primary focus is on silver and gold, with the flagship asset being the Las Chispas Mine located in the state of Sonora. This site comprises 28 concessions spanning about 1,401 hectares. Additionally, the company oversees a portfolio of other properties, including El Picacho, Cruz de Mayo, and Angel de Plata, also situated in Sonora.

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Conclusion

The recent surge in call options for SilverCrest Metals indicates heightened investor interest, despite the company's stock showing some volatility. As institutional investors continue to modify their holdings, all eyes are on how SilverCrest will perform in the coming months.

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