Silvercorp Metals (NYSEAMERICAN:SVM) Sees Large Volume Increase

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares saw an uptick in trading volume on Thursday . 14,432 shares traded hands during mid-day trading, a decline of 98% from the previous session’s volume of 736,418 shares.The stock last traded at $4.79 and had previously closed at $4.86.

Several research firms recently weighed in on SVM. BMO Capital Markets upped their price objective on Silvercorp Metals from C$7.50 to C$7.75 and gave the stock a “market perform” rating in a report on Friday, May 21st. Roth Capital upped their price target on Silvercorp Metals from $8.75 to $9.00 and gave the company a “buy” rating in a research note on Monday, May 24th. Raymond James initiated coverage on Silvercorp Metals in a report on Tuesday, June 22nd. They issued a “market perform” rating on the stock. Zacks Investment Research cut Silvercorp Metals from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a C$9.50 target price on shares of Silvercorp Metals in a research note on Wednesday, June 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.95.

The firm’s 50-day moving average is $6.33. The stock has a market cap of $840.04 million, a price-to-earnings ratio of 17.67 and a beta of 1.03.

Silvercorp Metals (NYSEAMERICAN:SVM) last posted its earnings results on Wednesday, May 19th. The company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Silvercorp Metals had a net margin of 24.14% and a return on equity of 7.45%. The company had revenue of $35.73 million for the quarter, compared to analyst estimates of $36.20 million. Sell-side analysts predict that Silvercorp Metals Inc. will post 0.33 EPS for the current year.

The firm also recently declared a semi-annual dividend, which was paid on Friday, June 25th. Stockholders of record on Friday, June 4th were given a dividend of $0.0125 per share. This represents a dividend yield of 0.4%. The ex-dividend date was Thursday, June 3rd. Silvercorp Metals’s dividend payout ratio is currently 13.64%.

A number of hedge funds have recently made changes to their positions in the business. ExodusPoint Capital Management LP grew its holdings in shares of Silvercorp Metals by 52.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 16,631 shares of the company’s stock worth $111,000 after buying an additional 5,720 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Silvercorp Metals by 66.9% in the first quarter. Bank of Montreal Can now owns 622,869 shares of the company’s stock valued at $3,401,000 after purchasing an additional 249,624 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Silvercorp Metals in the first quarter worth $335,000. Credit Suisse AG boosted its holdings in Silvercorp Metals by 18.9% during the fourth quarter. Credit Suisse AG now owns 172,912 shares of the company’s stock worth $1,156,000 after purchasing an additional 27,480 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Silvercorp Metals by 82.5% in the first quarter. Franklin Resources Inc. now owns 52,000 shares of the company’s stock valued at $256,000 after purchasing an additional 23,500 shares in the last quarter. Hedge funds and other institutional investors own 30.41% of the company’s stock.

About Silvercorp Metals (NYSEAMERICAN:SVM)

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China and Mexico. The company primarily explores for silver, gold, lead, and zinc metals. Its flagship property is the Ying silver-lead- zinc project located in the Ying Mining District in Henan Province, China.

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