Silvercorp Metals (NYSEAMERICAN:SVM) was downgraded by stock analysts at Alliance Global Partners from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports. They presently have a $4.35 price objective on the stock, up from their previous price objective of $4.25. Alliance Global Partners’ price objective would indicate a potential downside of 3.55% from the stock’s current price.
Several other equities analysts have also recently weighed in on SVM. Zacks Investment Research cut shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. TheStreet upgraded shares of Silvercorp Metals from a “c+” rating to a “b-” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets lowered shares of Silvercorp Metals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 11th.
Silvercorp Metals stock traded up $0.05 during mid-day trading on Tuesday, hitting $4.51. The company’s stock had a trading volume of 852,048 shares, compared to its average volume of 701,544. Silvercorp Metals has a twelve month low of $1.83 and a twelve month high of $4.66.
A number of institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its holdings in shares of Silvercorp Metals by 23.0% during the 2nd quarter. Toronto Dominion Bank now owns 156,793 shares of the company’s stock worth $388,000 after purchasing an additional 29,350 shares during the period. Aperio Group LLC raised its holdings in Silvercorp Metals by 33.1% in the second quarter. Aperio Group LLC now owns 79,193 shares of the company’s stock worth $195,000 after purchasing an additional 19,695 shares during the period. Invesco Ltd. acquired a new stake in Silvercorp Metals in the second quarter worth $246,000. JPMorgan Chase & Co. raised its holdings in Silvercorp Metals by 19.6% in the second quarter. JPMorgan Chase & Co. now owns 1,681,313 shares of the company’s stock worth $4,220,000 after purchasing an additional 275,347 shares during the period. Finally, Royal Bank of Canada raised its holdings in Silvercorp Metals by 15.8% in the second quarter. Royal Bank of Canada now owns 2,559,379 shares of the company’s stock worth $6,296,000 after purchasing an additional 348,653 shares during the period.
About Silvercorp Metals
Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. Its flagship project is the Ying silver-lead-zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd.
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