Silvercorp Metals (NYSEAMERICAN:SVM) Announces Quarterly Earnings Results

Silvercorp Metals (NYSEAMERICAN:SVM) released its quarterly earnings results 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. The firm had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $72.10 million. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%.

Silvercorp Metals Stock Up 6.7%

NYSEAMERICAN:SVM traded up $0.56 during trading hours on Friday, reaching $8.90. 2,753,256 shares of the company traded hands, compared to its average volume of 2,296,578. The stock has a market capitalization of $1.97 billion, a P/E ratio of 46.84 and a beta of 1.23. The business’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $11.19. Silvercorp Metals has a 1 year low of $5.97 and a 1 year high of $15.77. 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 Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 27th will be issued a $0.0125 dividend. This represents a yield of 29.0%. The ex-dividend date is Friday, November 27th. Silvercorp Metals’s dividend payout ratio is 8.33%.

Silvercorp Metals declared that its board has authorized a share buyback plan on Thursday, September 17th that authorizes the company to repurchase 8,850,000 outstanding shares. This buyback authorization authorizes the company to buy up to 4% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Roth Capital reiterated a “buy” rating and set a $14.00 target price (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Zacks Research cut shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, National Bank Financial started coverage on shares of Silvercorp Metals in a report on Thursday, October 8th. They set a “hold” rating for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Silvercorp Metals currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Silvercorp Metals Company Profile

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.