Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – Here’s Why

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped up prior to trading on Tuesday . The stock had previously closed at $10.01, but opened at $10.86. Silvercorp Metals shares last traded at $10.5540, with a volume of 970,876 shares.

Analyst Ratings Changes

SVM has been the subject of several research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Roth Mkm set a $11.50 target price on Silvercorp Metals in a report on Wednesday, January 21st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Silvercorp Metals Trading Up 5.1%

The company has a current ratio of 4.59, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $9.31 and a two-hundred day moving average price of $6.94. The firm has a market capitalization of $2.32 billion, a PE ratio of 87.47 and a beta of 0.97.

Silvercorp Metals Announces Dividend

The business also recently declared a dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given 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 dividend payout ratio (DPR) is currently 8.33%.

Institutional Trading of Silvercorp Metals

Several hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in Silvercorp Metals by 419.2% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company’s stock worth $31,000 after acquiring an additional 5,839 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Silvercorp Metals by 163.4% in the third quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock valued at $40,000 after buying an additional 3,929 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Silvercorp Metals in the 3rd quarter valued at about $57,000. TD Waterhouse Canada Inc. grew its position in shares of Silvercorp Metals by 22.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock worth $62,000 after acquiring an additional 1,374 shares during the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Silvercorp Metals in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 22.30% of the company’s stock.

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.