The Globe and Mail reports in its Wednesday edition that Stifel analyst Stephen Soock now rates SilverCrest Metals "hold," down from "buy." The Globe's David Leeder writes that Mr. Soock gave his share target a $4.75 trim to $8.25. Analysts on average target the shares at $11.69. The Globe says Mr. Soock believes the updated report for its Las Chispas mine in Mexico "resets expectations calibrated to reality but shows limited additional upside." He says in a note: "SilverCrest's updated technical report was a large miss to our estimates. The study missed our expectations across the board largely due to a lower reserve grade and substantially higher unit costs. Additional ground support and required development pushed operating unit costs 25 per cent above our expectations and drove sustaining capex/oz AgEq 90 per cent above what we had modeled. While we expect the stock to under perform today, we believe much of the disappointment was already baked into the share price. We are updating our model with revised reserve addition expectations and have calibrated our model to the results of the study." The Globe reported on March 29 that Scotia Capital rated Silvercrest "sector outperform." It was then worth $9.62.