Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares gapped down prior to trading on Wednesday . The stock had previously closed at $4.05, but opened at $3.46. Silvercorp Metals shares last traded at $3.32, with a volume of 3,068,278 shares traded.

Analysts Set New Price Targets

Separately, Roth Mkm decreased their price objective on shares of Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating on the stock in a research report on Wednesday, August 21st.

Silvercorp Metals Stock Performance

The firm has a market cap of $729.37 million, a P/E ratio of 11.18 and a beta of 1.33.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Silvercorp Metals had a return on equity of 8.12% and a net margin of 23.07%. The firm had revenue of $68.00 million for the quarter, compared to analyst estimates of $67.90 million. On average, equities analysts expect that Silvercorp Metals Inc. will post 0.34 EPS for the current year.

Silvercorp Metals Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.0125 dividend. This represents a dividend yield of 0.6%. The ex-dividend date is Friday, November 29th. Silvercorp Metals’s payout ratio is 10.00%.

Institutional Trading of Silvercorp Metals

A number of institutional investors have recently modified their holdings of SVM. Van ECK Associates Corp boosted its holdings in Silvercorp Metals by 153.8% in the third quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company’s stock worth $105,689,000 after acquiring an additional 13,399,851 shares in the last quarter. Tidal Investments LLC acquired a new position in Silvercorp Metals during the 1st quarter valued at approximately $17,619,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Silvercorp Metals by 2.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,366,682 shares of the company’s stock worth $23,369,000 after buying an additional 115,300 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Silvercorp Metals by 2.4% during the second quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company’s stock worth $15,577,000 after buying an additional 110,200 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Silvercorp Metals by 1,218.7% during the second quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock valued at $4,520,000 after buying an additional 1,252,174 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors.

Silvercorp Metals Company Profile

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.