Silvercorp Metals (NYSEAMERICAN:SVM) Shares Up 6.6% – Should You Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares shot up 6.6% on Wednesday . The stock traded as high as $12.79 and last traded at $12.68. 255,749 shares were traded during trading, a decline of 94% from the average daily volume of 4,461,439 shares. The stock had previously closed at $11.90.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SVM. Roth Capital reissued a “buy” rating and issued a $14.00 price objective (up from $13.50) on shares of Silvercorp Metals in a report on Wednesday, August 12th. Zacks Research lowered Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Silvercorp Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Silvercorp Metals Stock Performance

The business’s 50-day simple moving average is $10.71 and its two-hundred day simple moving average is $11.44. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 105.09 and a beta of 1.21.

Silvercorp Metals (NYSEAMERICAN:SVM) last posted its earnings results on Monday, August 10th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.The firm had revenue of $138.67 million for the quarter, compared to analysts’ expectations of $138.70 million. During the same period last year, the firm earned $0.08 EPS. As a group, sell-side analysts expect that Silvercorp Metals Inc. will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of Silvercorp Metals

Institutional investors have recently bought and sold shares of the business. U S Global Investors Inc. grew its stake in Silvercorp Metals by 147.1% in the 1st quarter. U S Global Investors Inc. now owns 617,663 shares of the company’s stock valued at $6,634,000 after acquiring an additional 367,663 shares during the period. Renaissance Technologies LLC increased its holdings in Silvercorp Metals by 14.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock worth $30,205,000 after acquiring an additional 348,000 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Silvercorp Metals by 349.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 146,793 shares of the company’s stock worth $1,229,000 after acquiring an additional 114,128 shares during the period. PDT Partners LLC acquired a new position in Silvercorp Metals during the second quarter worth $6,661,000. Finally, CIBC Asset Management Inc purchased a new position in Silvercorp Metals during the fourth quarter valued at $1,687,000. 22.30% of the stock is owned by institutional investors and hedge funds.

About Silvercorp Metals

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.