Silvercorp Metals (NYSEAMERICAN:SVM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, February 15th. The brokerage presently has a $3.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 17.19% from the company’s previous close.
According to Zacks, “Silvercorp Metals, Inc. engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in the Peoples Republic of China. It explores for silver, gold, lead, and zinc properties. The company primarily operates and develops four Silver-Lead-Zinc mines at the Ying Mining Camp, Henan Province; and the Na-Bao Polymetalic Project in Qinghai Province, China. The company is growing its resource base through continuous exploration of existing projects as well as acquiring new development and exploration projects in multiple jurisdictions. Silvercorp is listed on the Toronto Stock Exchange and the NYSE under the symbol T.SVM and SVM respectively. “
Silvercorp Metals (NYSEAMERICAN SVM) traded up $0.02 during midday trading on Thursday, hitting $2.56. The company had a trading volume of 179,000 shares, compared to its average volume of 364,560. Silvercorp Metals has a 52-week low of $2.12 and a 52-week high of $4.10. The firm has a market cap of $436.12, a P/E ratio of -4.20 and a beta of 1.36.
Silvercorp Metals (NYSEAMERICAN:SVM) last released its earnings results on Thursday, February 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Silvercorp Metals had a return on equity of 3.84% and a net margin of 11.70%. The firm had revenue of $44.35 million for the quarter, compared to the consensus estimate of $41.40 million.
Silvercorp Metals announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 23rd that authorizes the company to buyback 8,410,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. ARP Americas LLC grew its position in Silvercorp Metals by 50.9% during the 3rd quarter. ARP Americas LLC now owns 69,400 shares of the company’s stock worth $188,000 after purchasing an additional 23,400 shares during the period. ARP Americas LP grew its position in shares of Silvercorp Metals by 46.7% during the 4th quarter. ARP Americas LP now owns 101,800 shares of the company’s stock valued at $266,000 after acquiring an additional 32,400 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Silvercorp Metals during the 2nd quarter valued at about $125,000. Cypress Wealth Services LLC acquired a new stake in shares of Silvercorp Metals during the 4th quarter valued at about $105,000. Finally, Bank of Montreal Can grew its position in shares of Silvercorp Metals by 3.8% during the 4th quarter. Bank of Montreal Can now owns 1,162,582 shares of the company’s stock valued at $3,046,000 after acquiring an additional 42,548 shares during the period.
About Silvercorp Metals
Silvercorp Metals Inc (Silvercorp) is a silver-producing Canadian mining company. The Company is engaged in the acquisition, exploration, development, and mining of silver-related mineral properties in China. The Company’s segments include Mining, including projects, such as Henan Luoning, Hunan, Guangdong and Other, and Administrative, which includes Beijing and Vancouver.
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