Oxbow Advisors LLC Reduces Stake in SilverCrest Metals Inc.
Oxbow Advisors LLC has significantly reduced its investment in SilverCrest Metals Inc. (NYSE:SILV), according to a recent filing with the Securities and Exchange Commission. In the third quarter, the firm sold 57,759 shares, leading to an 84.6% decrease in its position. Following this sale, Oxbow Advisors LLC now holds 10,540 shares of SilverCrest Metals, which were valued at approximately $97,000 at the close of the most recent quarter.
Additionally, other institutional investors have also made adjustments to their stakes in SilverCrest Metals. For instance, Toronto Dominion Bank increased its holdings by 40.7% during the second quarter, acquiring an additional 1,225 shares and now owning a total of 4,234 shares valued at around $35,000. Similarly, Commonwealth Equity Services LLC raised its position by 3.2% during the same period, owning 89,419 shares worth $729,000 after adding 2,744 shares to its holdings. In the third quarter, Blue Trust Inc. increased its stake significantly by 194.1%, purchasing an additional 3,379 shares, which brought its total to 5,120 shares valued at $47,000.
Mather Group LLC also entered the landscape by purchasing a new stake in SilverCrest Metals valued at $28,000 during the second quarter. NewEdge Advisors LLC grew its stake by 3.5%, now owning 145,375 shares worth $1,185,000 after acquiring an additional 4,957 shares. Overall, institutional investors collectively own 44.75% of SilverCrest Metals’ stock.
Analyst Insights on SilverCrest Metals
In recent reports, several analysts have weighed in on SilverCrest Metals. Scotiabank increased its target price from $8.50 to $9.00 and assigned the stock a "sector perform" rating in a report released on August 19. Furthermore, Ventum Capital Markets downgraded its rating from "strong-buy" to "hold" on October 4.
Performance Overview of SilverCrest Metals
On the stock market, SilverCrest Metals opened at $10.31. The company has a market capitalization of about $1.53 billion, a P/E ratio of 14.52, and a beta of 1.21. Over the past fifty days, the stock has averaged $9.68. The company's stock hit a twelve-month low of $4.83 and a high of $11.91. SilverCrest Metals reported its quarterly earnings on August 7, stating an EPS of $0.04, which was below the expected $0.17 by $0.13. The firm's revenue for that quarter amounted to $72.74 million, showcasing a robust net margin of 40.61% and a return on equity of 25.66%. Analysts are currently forecasting an EPS of 0.55 for the current year.
About SilverCrest Metals Inc.
SilverCrest Metals Inc. focuses on acquiring, exploring, and developing precious metal properties, primarily in Mexico. The company is mainly involved in the exploration of silver and gold prospects, with its main property being the Las Chispas Mine, which comprises 28 concessions over approximately 1,401 hectares in Sonora, Mexico. SilverCrest also manages additional properties, including El Picacho, Cruz de Mayo, and Angel de Plata, all located in the Sonora region.
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