Silvercorp Metals (NYSEAMERICAN:SVM) Posts Earnings Results

Silvercorp Metals (NYSEAMERICAN:SVM) issued its quarterly earnings data on Thursday. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01, Zacks reports. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%. The company had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $72.10 million.

Silvercorp Metals Stock Performance

SVM traded up $0.56 during trading hours on Friday, hitting $8.90. The company’s stock had a trading volume of 2,753,256 shares, compared to its average volume of 2,296,578. The firm has a market capitalization of $1.97 billion, a PE ratio of 46.84 and a beta of 1.23. The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10. Silvercorp Metals has a fifty-two week low of $5.97 and a fifty-two week high of $15.77. The company has a 50-day simple moving average of $10.50 and a 200 day simple moving average of $11.19.

Silvercorp Metals Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be given a dividend of $0.0125 per share. The ex-dividend date is Friday, November 27th. This represents a dividend yield of 29.0%. Silvercorp Metals’s dividend payout ratio is currently 8.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SVM shares. National Bank Financial assumed coverage on shares of Silvercorp Metals in a report on Thursday, October 8th. They set a “hold” rating on the stock. Zacks Research cut Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Roth Capital reiterated 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. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Silvercorp Metals announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 17th that permits the company to buy back 8,850,000 shares. This repurchase authorization permits the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. The company’s production profile is centered on silver, lead and zinc, with its operations and mineral projects located primarily in China and Ecuador.

In China, Silvercorp operates the Ying Mining District in Henan Province, which includes the Ying, HPG and TLP mines. These underground operations produce silver-lead and zinc-lead concentrates for sale to smelters and other customers.