Canaccord Genuity Group Trims Silvercorp Metals (TSE:SVM) Target Price to C$7.00

Silvercorp Metals (TSE:SVM) had its price target cut by research analysts at Canaccord Genuity Group from C$7.50 to C$7.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 47.99% from the company’s previous close.

SVM has been the subject of a number of other reports. Raymond James raised their price target on Silvercorp Metals from C$5.50 to C$7.00 in a report on Tuesday. BMO Capital Markets set a C$5.00 target price on Silvercorp Metals and gave the stock an “outperform” rating in a research note on Wednesday, February 21st.

Silvercorp Metals Stock Performance

SVM stock traded down C$0.11 during mid-day trading on Wednesday, hitting C$4.73. The company had a trading volume of 133,284 shares, compared to its average volume of 268,896. Silvercorp Metals has a 12 month low of C$2.88 and a 12 month high of C$5.47. The stock’s fifty day moving average price is C$4.11 and its two-hundred day moving average price is C$3.59. The firm has a market cap of C$836.36 million, a PE ratio of 20.57, a price-to-earnings-growth ratio of 0.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.43 and a current ratio of 3.73.

Silvercorp Metals (TSE:SVM) last posted its quarterly earnings results on Thursday, February 8th. The company reported C$0.08 EPS for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.02. Silvercorp Metals had a net margin of 15.01% and a return on equity of 7.50%. The company had revenue of C$79.66 million for the quarter, compared to analysts’ expectations of C$74.39 million. On average, analysts forecast that Silvercorp Metals will post 0.3522572 earnings per share for the current fiscal year.

Insider Transactions at Silvercorp Metals

In other Silvercorp Metals news, Director Rui Feng sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$5.18, for a total value of C$207,200.00. In other news, Director Yikang Liu sold 15,167 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$4.03, for a total transaction of C$61,053.24. Also, Director Rui Feng sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$5.18, for a total transaction of C$207,200.00. Insiders own 4.38% of the company’s stock.

About Silvercorp Metals

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.