SilverCrest Metals Inc. (SIL.TO) | Investment Case

1. Company Snapshot

1.a. Company Description

SilverCrest Metals Inc.explores for and develops precious metal properties in Mexico.The company primarily explores for silver and gold properties.

Its principal property includes the Las Chispas project that consists of 28 concessions totaling of approximately 1,401 hectares located in Sonora, Mexico.The company was incorporated in 2015 and is headquartered in Vancouver, Canada.

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1.b. Last Insights on SIL

SilverCrest Metals Inc.'s recent stock performance was driven by the agreement with Coeur Mining, Inc. (NYSE: CDE) and the subsequent plan of arrangement. The company's strong Q4 2024 earnings and annual operational results contributed to the stock's performance. Additionally, the approval of the Mexican anti-trust authority and the court approval for the arrangement with Coeur Mining were also positive drivers.

1.c. Company Highlights

Last Price	15.01
Change Percentage	-8.64%
Open	16.69
Previous Close	16.43
Market Cap ( Millions)	2239
Volume	4837797
Year High	17.09
Year Low	6.75
M A 50	14.6
M A 200	13.14

FCF Yield	3.32%
Dividend Yield	0.00%
ROE	3.49%
Debt / Equity	0.21%
Net Debt / EBIDTA	-139.01%
Price To Book	3.8
Price Earnings Ratio	110.22
Price To FCF	30.16
Price To sales	10.59
EV / EBITDA	17.4

2. Transcript Summary

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3. NewsRoom

SilverCrest Closes Arrangement with Coeur Mining

Feb -14

Source:

SilverCrest Metals Receives Court Approval for Arrangement with Coeur Mining

Feb -11

Source:

S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

Feb -07

Source:

SilverCrest Securityholders Approve Transaction with Coeur Mining

Feb -06

Source:

SilverCrest Receives Mexican Anti-Trust Approval Regarding Transaction with Coeur Mining

Feb -03

Source:

SilverCrest Reminds Securityholders of Voting Deadline for Upcoming Special Meeting

Jan -31

Source:

Leading Independent Proxy Advisory Firm Recommends SilverCrest's Shareholders Vote FOR the Arrangement with Coeur Mining

Jan -27

Source:

SilverCrest Provides 2024 Fourth Quarter and Annual Operational Results

Jan -15

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.98%)

6. Segments

Las Chispas

Expected Growth: 9.98%

Las Chispas' 9.98% growth is driven by increasing silver and gold prices, high-grade ore discoveries, and SilverCrest Metals' efficient mine planning and operations. The project's proximity to existing infrastructure, low capital expenditures, and strong metallurgical recoveries also contribute to its growth potential.

7. Detailed Products

Las Chispas Mine

A high-grade silver-gold project located in Sonora, Mexico, with a focus on exploration, development, and production of silver and gold.

Exploration Services

Geological exploration and drilling services to identify and develop new mineral deposits.

Mineral Resource Estimation

Estimation of mineral resources and reserves for mining projects.

8. SilverCrest Metals Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

SilverCrest Metals Inc. operates in the mining industry, where substitutes are limited. However, the company's focus on silver and gold mining makes it vulnerable to fluctuations in metal prices, which could lead to a medium threat of substitutes.

Bargaining Power Of Customers

SilverCrest Metals Inc. sells its products to a diverse range of customers, including jewelry manufacturers, industrial companies, and investors. The company's customers do not have significant bargaining power, as they are not concentrated and do not have alternative sources of supply.

Bargaining Power Of Suppliers

SilverCrest Metals Inc. relies on suppliers for equipment, materials, and services. While the company has some bargaining power due to its size and reputation, suppliers may still have some leverage, particularly if they provide specialized or critical components.

Threat Of New Entrants

The mining industry has significant barriers to entry, including high capital costs, regulatory hurdles, and environmental concerns. New entrants would need to invest heavily in exploration, development, and infrastructure, making it difficult for them to compete with established players like SilverCrest Metals Inc.

Intensity Of Rivalry

The mining industry is highly competitive, with many established players competing for market share. SilverCrest Metals Inc. faces intense rivalry from other mining companies, which could lead to downward pressure on prices and profit margins.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	0.07%
Debt Cost	9.26%
Equity Weight	99.93%
Equity Cost	9.26%
WACC	9.26%
Leverage	0.07%

11. Quality Control: SilverCrest Metals Inc. passed 8 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

SilverCrest Metals

A-Score: 5.0/10

Value: 2.4

Growth: 9.8

Quality: 7.8

Yield: 0.0

Momentum: 6.0

Volatility: 4.3

1-Year Total Return ->

Gold Royalty

A-Score: 4.9/10

Value: 5.4

Growth: 7.2

Quality: 3.2

Yield: 0.0

Momentum: 10.0

Volatility: 3.3

1-Year Total Return ->

Aris Mining

A-Score: 4.3/10

Value: 3.6

Growth: 2.9

Quality: 4.9

Yield: 1.0

Momentum: 10.0

Volatility: 3.7

1-Year Total Return ->

McEwen Mining

A-Score: 4.3/10

Value: 5.0

Growth: 6.1

Quality: 2.9

Yield: 0.0

Momentum: 9.0

Volatility: 2.7

1-Year Total Return ->

GoGold Resources

A-Score: 4.1/10

Value: 1.3

Growth: 3.7

Quality: 7.2

Yield: 0.0

Momentum: 9.5

Volatility: 3.0

1-Year Total Return ->

Endeavour Silver

A-Score: 4.1/10

Value: 6.6

Growth: 3.2

Quality: 3.3

Yield: 0.0

Momentum: 9.5

Volatility: 2.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

10.61%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

9.26%

SilverCrest Metals Inc. - CA8283631015

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on SIL

1.c. Company Highlights

Better Quality

Higher Growth

Stable Momentum

Earnings Beats

Strong Momentum

Earnings Miss

Average Yield

Fairly Valued

Expensive

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.98%)

6. Segments

Las Chispas

Expected Growth: 9.98%

7. Detailed Products

Las Chispas Mine

Exploration Services

Mineral Resource Estimation

8. SilverCrest Metals Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: SilverCrest Metals Inc. passed 8 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

15.01$

Current Price

15.01$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA