why SilverCrest Metals Inc. [SILV] is a Good Choice for Investors After New Price Target of $10.00

SilverCrest Metals Inc. [AMEX: SILV] plunged by -$0.22 during the normal trading session on Thursday and reaching a high of $6.43 during the day while it closed the day at $6.21. The company report on November 30, 2022 that SilverCrest Announces Final Connection to Powerline; Release of Inaugural TCFD and Water Stewardship Reports.

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TSX: SIL | NYSE American: SILV.

SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is proud to release its inaugural Task Force for Climate Related Financial Disclosure (“TCFD”) report and a corresponding Water Stewardship report based on conclusions from the TCFD report. SilverCrest is also pleased to announce the completion and final permanent connection of its 33 kilovolt (“KV”) electrical powerline (the “Powerline”) for the Company’s Las Chispas Mine (“Las Chispas”) located in Sonora, Mexico.

SilverCrest Metals Inc. stock has also loss -9.08% of its value over the past 7 days. However, SILV stock has inclined by 11.29% in the 3 months of the year. Over the past six months meanwhile, it has lost -8.54% and lost -21.49% year-on date.

The market cap for SILV stock reached $909.76 million, with 146.50 million shares outstanding and 140.34 million shares in the current float. Compared to the average trading volume of 1.14M shares, SILV reached a trading volume of 2990570 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about SilverCrest Metals Inc. [SILV]:

RBC Capital Mkts have made an estimate for SilverCrest Metals Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 02, 2021. The new note on the price target was released on February 04, 2021, representing the official price target for SilverCrest Metals Inc. stock.

The Average True Range (ATR) for SilverCrest Metals Inc. is set at 0.37, with the Price to Sales ratio for SILV stock in the period of the last 12 months amounting to 334.59. The Price to Book ratio for the last quarter was 3.44.

SILV stock trade performance evaluation

SilverCrest Metals Inc. [SILV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.08. With this latest performance, SILV shares dropped by -1.27% in over the last four-week period, additionally sinking by -8.54% over the last 6 months – not to mention a drop of -13.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SILV stock in for the last two-week period is set at 47.26, with the RSI for the last a single of trading hit 41.15, and the three-weeks RSI is set at 49.80 for SilverCrest Metals Inc. [SILV]. The present Moving Average for the last 50 days of trading for this stock 5.94, while it was recorded at 6.50 for the last single week of trading, and 6.79 for the last 200 days.

SilverCrest Metals Inc. [SILV]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -10.80, with Return on Assets sitting at -8.04.

SilverCrest Metals Inc. [SILV]: Insider Ownership positions

There are presently around $355 million, or 51.79% of SILV stock, in the hands of institutional investors. The top three institutional holders of SILV stocks are: SPROTT INC. with ownership of 8,428,365, which is approximately 4.008% of the company’s market cap and around 3.09% of the total institutional ownership; GILDER GAGNON HOWE & CO LLC, holding 7,319,194 shares of the stock with an approximate value of $45.45 million in SILV stocks shares; and VAN ECK ASSOCIATES CORP, currently with $39.89 million in SILV stock with ownership of nearly 4.493% of the company’s market capitalization.

Positions in SilverCrest Metals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 52 institutional holders increased their position in SilverCrest Metals Inc. [AMEX:SILV] by around 2,642,694 shares. Additionally, 55 investors decreased positions by around 8,172,741 shares, while 39 investors held positions by with 46,272,663 shares. The mentioned changes placed institutional holdings at 57,088,098 shares, according to the latest SEC report filing. SILV stock had 11 new institutional investments in for a total of 145,476 shares, while 20 institutional investors sold positions of 4,576,154 shares during the same period.


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