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

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $10.06, but opened at $9.14. Silvercorp Metals shares last traded at $9.2470, with a volume of 3,291,078 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Roth Mkm set a $11.00 target price on shares of Silvercorp Metals in a research report on Tuesday, February 10th. Raymond James Financial restated an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Silvercorp Metals in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Silvercorp Metals Price Performance

The company has a market capitalization of $2.07 billion, a P/E ratio of -134.21 and a beta of 0.92. The stock has a 50-day moving average price of $11.39 and a 200-day moving average price of $8.48.

Institutional Investors Weigh In On Silvercorp Metals

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Silvercorp Metals during the fourth quarter worth $82,000. DGS Capital Management LLC lifted its holdings in Silvercorp Metals by 14.6% in the fourth quarter. DGS Capital Management LLC now owns 25,941 shares of the company’s stock valued at $216,000 after buying an additional 3,301 shares during the period. Mackenzie Financial Corp boosted its position in Silvercorp Metals by 88.9% during the fourth quarter. Mackenzie Financial Corp now owns 231,751 shares of the company’s stock valued at $1,982,000 after acquiring an additional 109,041 shares during the last quarter. XTX Topco Ltd boosted its position in Silvercorp Metals by 280.7% during the fourth quarter. XTX Topco Ltd now owns 88,341 shares of the company’s stock valued at $737,000 after acquiring an additional 65,134 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in Silvercorp Metals by 102.0% during the 4th quarter. Voloridge Investment Management LLC now owns 2,863,819 shares of the company’s stock worth $23,884,000 after acquiring an additional 1,445,799 shares during the period. 22.30% of the stock is owned by institutional investors.

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.