SilverCrest Metals Inc. Sees Significant Drop in Short Interest

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) experienced a notable decline in short interest throughout October. By October 15th, the total short interest had fallen to 2,300,000 shares, marking a substantial decrease of 45.9% from the previous month’s total of 4,250,000 shares as of September 30th. Currently, about 1.6% of the company’s stock is reportedly short sold. Given the average trading volume of 2,090,000 shares per day, the days-to-cover ratio now stands at 1.1 days.

SilverCrest Metals Stock Performance

The trending stock for SilverCrest Metals (NYSEAMERICAN:SILV) recently saw a drop of $0.45 on Friday, bringing its share price down to $10.83. A total of 2,041,157 shares changed hands during the session, above its average volume of 1,691,065 shares. Over the past year, the stock has fluctuated between a low of $4.79 and a high of $11.91. It holds a market capitalization of $1.59 billion with a price-to-earnings ratio of 13.88 and a beta of 1.22.

In its last quarterly earnings report, released on August 7th, SilverCrest Metals posted earnings per share (EPS) of $0.04. This figure fell short of analysts' expectations, which were set at $0.17, resulting in a miss of $0.13. The company's return on equity was recorded at 33.11%, with a net margin of 47.62%. Revenue for the quarter was reported at $72.74 million. Analysts currently predict an EPS of 0.54 for SilverCrest Metals for the current fiscal year.

SilverCrest Metals Company Overview

SilverCrest Metals Inc. focuses on acquiring, exploring, and developing precious metal properties, primarily silver and gold, within Mexico. The company’s main asset is the Las Chispas Mine, comprising 28 concessions across approximately 1,401 hectares located in Sonora, Mexico. Additionally, it has a portfolio that includes other properties such as El Picacho, Cruz de Mayo, and Angel de Plata in the Sonora region.

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