Silvercorp Metals (NYSEAMERICAN:SVM) Stock Price Up 9% – What’s Next?

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) were up 9% on Friday . The stock traded as high as $11.14 and last traded at $11.1130. Approximately 6,731,163 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 5,269,580 shares. The stock had previously closed at $10.20.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SVM. Roth Capital lifted their target price on shares of Silvercorp Metals to $9.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Raymond James Financial restated an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday. Cantor Fitzgerald set a $7.50 price objective on shares of Silvercorp Metals and gave the company an “overweight” rating in a research note on Monday, September 22nd. Cormark upgraded shares of Silvercorp Metals to a “moderate buy” rating in a report on Thursday, September 25th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Silvercorp Metals in a report on Friday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

Silvercorp Metals Stock Performance

The firm has a market capitalization of $2.49 billion, a P/E ratio of 94.26 and a beta of 0.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.59 and a quick ratio of 4.50. The firm has a 50-day moving average price of $8.05 and a two-hundred day moving average price of $6.31.

Silvercorp Metals Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.0125 dividend. This represents a yield of 32.0%. The ex-dividend date of this dividend was Friday, November 28th. Silvercorp Metals’s payout ratio is 8.33%.

Hedge Funds Weigh In On Silvercorp Metals

A number of institutional investors have recently modified their holdings of the stock. Tidal Investments LLC grew its stake in shares of Silvercorp Metals by 24.2% during the third quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after acquiring an additional 2,138,301 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Silvercorp Metals by 38.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock worth $57,665,000 after purchasing an additional 2,534,155 shares during the last quarter. Alps Advisors Inc. grew its position in Silvercorp Metals by 111.9% during the 3rd quarter. Alps Advisors Inc. now owns 2,552,762 shares of the company’s stock worth $16,133,000 after purchasing an additional 1,347,819 shares during the last quarter. U S Global Investors Inc. increased its stake in Silvercorp Metals by 29.5% during the 3rd quarter. U S Global Investors Inc. now owns 1,562,671 shares of the company’s stock valued at $9,876,000 after purchasing an additional 356,005 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Silvercorp Metals in the third quarter worth $8,962,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company’s core operations are located in the provinces of Henan and Guangxi in the People’s Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company’s principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.