Significant Drop in Short Interest for SilverCrest Metals Inc.

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) experienced a notable reduction in short interest throughout October. As of October 15th, the total short interest stood at 2,300,000 shares, reflecting a 45.9% decline from the 4,250,000 shares reported on September 30th. This means that around 1.6% of the company's shares are currently being short sold. With an average daily trading volume of 2,090,000 shares, the short-interest ratio is now approximately 1.1 days.

Stock Performance of SilverCrest Metals

On Friday, NYSEAMERICAN SILV saw a decrease in its stock price by $0.45, bringing it down to $10.83. A total of 2,041,157 shares were traded that day, surpassing the average volume of 1,691,065 shares. Over the past year, SilverCrest Metals has recorded a 52-week low of $4.79 and a high of $11.91. The company's market capitalization is valued at $1.59 billion, and it has a price-to-earnings ratio of 13.88, with a beta of 1.22.

SilverCrest Metals reported its quarterly earnings on August 7th, where it announced earnings per share (EPS) of $0.04 for the quarter. This figure fell short of the consensus estimate of $0.17 by $0.13. The company achieved a return on equity of 33.11% and a net profit margin of 47.62%, with revenue amounting to $72.74 million during the quarter. Analysts predict that SilverCrest Metals will reach an EPS of 0.54 for the current fiscal year.

About SilverCrest Metals

SilverCrest Metals Inc. is engaged in acquiring, exploring, and developing precious metal properties, particularly in Mexico. The company primarily focuses on silver and gold. Its main property is the Las Chispas Mine, which includes 28 concessions covering approximately 1,401 hectares in Sonora, Mexico. Additionally, SilverCrest operates a portfolio of other properties including El Picacho, Cruz de Mayo, and Angel de Plata, all located in Sonora, Mexico.

Related Topics

• Five stocks we like better than SilverCrest Metals
• What is the Dow Jones Industrial Average (DJIA)?
• Lam Research Proves Analysts Wrong with a Strong Earnings Report
• Why is the Ex-Dividend Date Significant to Investors?
• PureCycle: Up 250% in 2024 - Is This Materials Stock Still a Buy?
• Insider Buying Explained: What Investors Need to Know
• MarketBeat Week in Review – 10/21- 10/25

This report utilizes advanced narrative technology and financial data to present an accurate overview. For queries or comments, please reach out via the appropriate channels.

Investment Considerations

Before considering an investment in SilverCrest Metals, it is essential to note the opinions of Wall Street's leading analysts. Although SilverCrest currently carries a "Moderate Buy" rating, some analysts believe there are other stocks that may offer better investment opportunities at this time.

SilverCrest, Stocks, Finance