SilverCrest Metals price target raised to $8.50 from $8 at Scotiabank

Scotiabank analyst Ovais Habib raised the firm’s price target on SilverCrest Metals to $8.50 from $8 and keeps a Sector Perform rating on the shares. The firm has updated its estimates for actual Q2 metal prices and FX rates while also making minor adjustments to its 2024 estimates, the analyst tells investors. The firm expects to see a margin expansion of approximately 17% on average over last quarter across its producer coverage universe.