Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Short Interest Up 20.3% in December

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 15,956,668 shares, a growth of 20.3% from the December 15th total of 13,266,222 shares. Currently, 7.6% of the shares of the company are sold short. Based on an average daily volume of 6,080,691 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 6,080,691 shares, the days-to-cover ratio is currently 2.6 days. Currently, 7.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SVM. Caitong International Asset Management Co. Ltd increased its holdings in shares of Silvercorp Metals by 419.2% in the second quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company’s stock worth $31,000 after buying an additional 5,839 shares during the period. EverSource Wealth Advisors LLC grew its position in Silvercorp Metals by 163.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock worth $40,000 after acquiring an additional 3,929 shares during the last quarter. Ballentine Partners LLC purchased a new position in Silvercorp Metals in the 2nd quarter worth approximately $50,000. Banque Cantonale Vaudoise bought a new stake in Silvercorp Metals in the third quarter valued at approximately $57,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Silvercorp Metals in the third quarter valued at approximately $67,000. 22.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SVM. BMO Capital Markets reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Friday. Roth Capital lowered Silvercorp Metals from a “buy” rating to a “neutral” rating and set a $10.50 price objective for the company. in a report on Tuesday. Cantor Fitzgerald set a $7.50 price objective on Silvercorp Metals and gave the company an “overweight” rating in a research note on Monday, September 22nd. Raymond James Financial reiterated an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Finally, Cormark raised shares of Silvercorp Metals to a “moderate buy” rating in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Silvercorp Metals currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Silvercorp Metals Price Performance

Shares of NYSEAMERICAN SVM traded up $0.98 during mid-day trading on Tuesday, reaching $12.29. 6,485,328 shares of the company were exchanged, compared to its average volume of 5,625,889. Silvercorp Metals has a 52 week low of $2.93 and a 52 week high of $12.30. The company has a quick ratio of 4.50, a current ratio of 4.59 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $8.24 and its 200 day moving average price is $6.44. The stock has a market capitalization of $2.71 billion, a PE ratio of 102.46 and a beta of 0.97.

Silvercorp Metals Dividend Announcement

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

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.