Silvercorp Metals (NYSEAMERICAN:SVM) Trading Up 8.5% – What’s Next?

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) traded up 8.5% on Thursday . The stock traded as high as $12.11 and last traded at $12.1250. 366,368 shares traded hands during trading, a decline of 91% from the average daily volume of 4,309,142 shares. The stock had previously closed at $11.18.

Wall Street Analyst Weigh In

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

Silvercorp Metals Stock Up 8.8%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.46 and a current ratio of 3.51. The firm has a market cap of $2.69 billion, a PE ratio of 101.47 and a beta of 1.22. The stock has a fifty day moving average price of $11.15 and a 200-day moving average price of $11.47.

Silvercorp Metals (NYSEAMERICAN:SVM) last posted its earnings results on Monday, August 10th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The firm had revenue of $138.67 million during the quarter, compared to the consensus estimate of $138.70 million. During the same quarter in the prior year, the company earned $0.08 EPS. Research analysts expect that Silvercorp Metals Inc. will post 0.67 EPS for the current year.

Hedge Funds Weigh In On Silvercorp Metals

A number of hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in shares of Silvercorp Metals by 125.6% during the 2nd quarter. Van ECK Associates Corp now owns 15,941,612 shares of the company’s stock valued at $161,025,000 after acquiring an additional 8,875,001 shares in the last quarter. BlackRock Inc. acquired a new stake in Silvercorp Metals in the 2nd quarter valued at $42,564,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Silvercorp Metals in the 2nd quarter valued at $39,719,000. Alps Advisors Inc. raised its position in Silvercorp Metals by 47.6% in the fourth quarter. Alps Advisors Inc. now owns 3,767,118 shares of the company’s stock valued at $31,418,000 after purchasing an additional 1,214,356 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Silvercorp Metals by 14.1% during the first quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock worth $30,205,000 after purchasing an additional 348,000 shares in the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.

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. Its primary products include silver, lead and zinc, with gold also produced or contained in certain deposits.

The company has historically operated mines in China, including the Ying Mining District in Henan province, the GC mine in Guangdong province and the BYP gold-lead-zinc mine. Silvercorp’s activities have included underground mining, mineral processing and exploration aimed at extending mine life and expanding its resource base.

Silvercorp has also expanded its international portfolio through projects in Ecuador, including the El Domo-Curipamba project and the Condor gold project.