Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.79, but opened at $10.40. Silvercorp Metals shares last traded at $10.3250, with a volume of 1,791,648 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SVM shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Silvercorp Metals in a report on Friday, January 16th. Roth Mkm set a $11.00 price target on shares of Silvercorp Metals in a report on Tuesday, February 10th. Finally, Raymond James Financial restated an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Silvercorp Metals has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Silvercorp Metals Trading Down 6.6%

The stock has a market cap of $2.14 billion, a PE ratio of -138.41 and a beta of 0.92. The firm has a fifty day simple moving average of $11.39 and a two-hundred day simple moving average of $8.65.

Hedge Funds Weigh In On Silvercorp Metals

A number of institutional investors have recently made changes to their positions in SVM. Vontobel Holding Ltd. grew its position in Silvercorp Metals by 84.3% in the third quarter. Vontobel Holding Ltd. now owns 368,567 shares of the company’s stock worth $2,325,000 after acquiring an additional 168,567 shares in the last quarter. Quantbot Technologies LP raised its position in Silvercorp Metals by 37.0% during the third quarter. Quantbot Technologies LP now owns 434,782 shares of the company’s stock valued at $2,748,000 after purchasing an additional 117,380 shares in the last quarter. U S Global Investors Inc. lifted its stake in Silvercorp Metals by 29.5% during the third quarter. U S Global Investors Inc. now owns 1,562,671 shares of the company’s stock worth $9,876,000 after purchasing an additional 356,005 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its stake in Silvercorp Metals by 182.7% during the third quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 132,000 shares of the company’s stock worth $833,000 after purchasing an additional 85,300 shares during the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Silvercorp Metals by 111.9% in 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 in the last quarter. Institutional investors own 22.30% of the company’s stock.

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.