In this piece, we will take a look at five mining stocks to buy today according to Kerr Neilson’s Platinum Asset Management. If you want to learn more about the hedge fund investor and his fund, and want to take a look at more stock picks from this list, then head over to 8 Mining Stocks to Buy Today According to Kerr Neilson’s Platinum Asset Management.
5. SilverCrest Metals Inc. (NYSE:SILV)
Platinum Asset Management’s Stake Value: $22 million
Percentage of Platinum Asset Management’s 13F Portfolio: 0.61%
Number of Hedge Fund Holders: 12
SilverCrest Metals Inc. (NYSE:SILV) is a precious metals miner that is headquartered in Vancouver, Canada. The company is focused primarily on exploring and developing properties that can be used to mine gold and silver, which are two of the most valuable metals in the world. It has a mining site covering 1,401 hectares in Mexico.
For its fourth quarter of 2021 investment portfolio, Platinum Asset Management held a $22 million stake in SilverCrest Metals Inc. (NYSE:SILV). This came in the form of 2.8 million shares and it represented 0.68% of the firm’s overall investments. Insider Monkey scanned the portfolios of 924 hedge funds for Q4 2021 and determined that 12 out of these had also bought the company’s shares.
By the end of its fiscal fourth quarter, SilverCrest Metals Inc. (NYSE:SILV) had reported -$0.16 in GAAP EPS for its latest fiscal year. This beat analyst estimates by $0.03, and during the same time the company also reported $176 million in cash and cash equivalents for the full fiscal year. Desjardins set a CAD$15.25 price target for the company in February 2022, outlining that its Mexico mine is on schedule and will start to generate cash flow in the second half of this year.
Eric Sprott’s Sprott Asset Management is SilverCrest Metals Inc. (NYSE:SILV)’s largest investor. It owns 7.4 million shares for a $58 million stake.