Q2 2023 Earnings Forecast for SilverCrest Metals Inc. Issued By Raymond James (NYSEMKT:SILV)

Posted by on Aug 5th, 2023

SilverCrest Metals Inc. (NYSEMKT:SILV – Free Report) – Stock analysts at Raymond James dropped their Q2 2023 earnings per share estimates for shares of SilverCrest Metals in a research report issued to clients and investors on Tuesday, August 1st. Raymond James analyst C. Stanley now forecasts that the company will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.14. The consensus estimate for SilverCrest Metals’ current full-year earnings is $0.65 per share. Raymond James also issued estimates for SilverCrest Metals’ FY2024 earnings at $0.48 EPS.

Several other equities research analysts have also recently weighed in on the company. Desjardins decreased their target price on SilverCrest Metals from C$13.50 to C$10.50 in a research note on Wednesday. Royal Bank of Canada cut SilverCrest Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. Finally, Stifel Nicolaus cut SilverCrest Metals from a “buy” rating to a “hold” rating in a research note on Tuesday.

SilverCrest Metals Stock Performance

Shares of SILV opened at $4.60 on Friday. The firm has a 50-day moving average of $5.90 and a 200-day moving average of $6.23. The company has a quick ratio of 1.69, a current ratio of 2.72 and a debt-to-equity ratio of 0.02. The stock has a market cap of $676.52 million, a PE ratio of 10.21 and a beta of 1.04.

Institutional Investors Weigh In On SilverCrest Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SILV. Van ECK Associates Corp raised its position in SilverCrest Metals by 12.2% in the first quarter. Van ECK Associates Corp now owns 17,065,507 shares of the company’s stock worth $121,846,000 after acquiring an additional 1,850,115 shares in the last quarter. 1832 Asset Management L.P. raised its position in SilverCrest Metals by 6.4% in the fourth quarter. 1832 Asset Management L.P. now owns 2,924,700 shares of the company’s stock worth $17,548,000 after acquiring an additional 174,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SilverCrest Metals by 12.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,123,400 shares of the company’s stock valued at $15,098,000 after buying an additional 229,900 shares in the last quarter. TD Asset Management Inc increased its position in shares of SilverCrest Metals by 17.6% in the fourth quarter. TD Asset Management Inc now owns 1,866,436 shares of the company’s stock valued at $11,158,000 after buying an additional 279,958 shares in the last quarter. Finally, Foundry Partners LLC increased its position in shares of SilverCrest Metals by 31.7% in the second quarter. Foundry Partners LLC now owns 772,125 shares of the company’s stock valued at $4,525,000 after buying an additional 185,720 shares in the last quarter. Hedge funds and other institutional investors own 45.72% of the company’s stock.

SilverCrest Metals Company Profile

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SilverCrest Metals Inc engages in the exploration and development of precious metal properties in Mexico. The company primarily explores for silver and gold properties. Its principal property includes the Las Chispas Mine that consists of 28 concessions totaling of approximately 1,401 hectares located in Sonora, Mexico.

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Earnings History and Estimates for SilverCrest Metals (NYSEMKT:SILV)

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