SilverCrest Metals Surpasses Analyst Price Target: Key Insights for Investors
In recent trading, shares of SilverCrest Metals Inc (Symbol: SILV) have surpassed the average analyst 12-month target price of $10.11, currently priced at $10.21 a share. When a stock reaches an analyst’s target, they typically have two options: downgrade the stock due to valuation concerns or adjust their target price higher. This reaction often depends on recent business developments that might have driven the stock price upwards. If there are positive signs for the company, a target price increase could be warranted.
Within the Zacks coverage universe, six different analyst targets contribute to the average for SilverCrest Metals Inc. However, it’s important to note that this average represents a mathematical mean. Some analysts have lower targets, such as $8.05, while others are more optimistic, placing a target as high as $12.58. The standard deviation among these targets is $1.679.
The purpose of examining the average SILV price target is to leverage the collective insights of multiple analysts, instead of relying on a single expert’s opinion. Now that SILV has crossed the average target price of $10.11, investors are prompted to reconsider their positions. They must ask themselves whether this price is merely a stepping stone towards an even higher goal or if the current valuation suggests it’s time to take some profits. Below is a table summarizing the current views of analysts covering SilverCrest Metals Inc:
| Recent SILV Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 1 | 1 | 1 | 1 |
| Buy ratings: | 1 | 1 | 1 | 2 |
| Hold ratings: | 4 | 4 | 4 | 5 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.5 | 2.5 | 2.5 | 2.5 |
The average rating in the above table ranges from 1 (Strong Buy) to 5 (Strong Sell). This article uses data from Zacks Investment Research via Quandl.com. For the latest Zacks research report on SILV, visit their site for more details.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
