Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – What’s Next?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $9.22, but opened at $9.84. Silvercorp Metals shares last traded at $9.5130, with a volume of 416,605 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on SVM shares. Roth Capital lowered their target price on Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Zacks Research raised Silvercorp Metals from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 19th. Finally, Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $10.50.

Silvercorp Metals Stock Up 1.2%

The firm has a market cap of $2.06 billion, a P/E ratio of -233.07 and a beta of 1.13. The business’s fifty day moving average price is $11.69 and its two-hundred day moving average price is $11.26. The company has a current ratio of 3.58, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10.

Silvercorp Metals Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, June 25th. Shareholders of record on Friday, June 5th were given a dividend of $0.0125 per share. This represents a yield of 23.0%. The ex-dividend date of this dividend was Friday, June 5th. Silvercorp Metals’s dividend payout ratio is presently 8.33%.

Hedge Funds Weigh In On Silvercorp Metals

Several institutional investors have recently bought and sold shares of SVM. Arrowstreet Capital Limited Partnership boosted its stake in shares of Silvercorp Metals by 238.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock worth $77,244,000 after acquiring an additional 6,511,389 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Silvercorp Metals in the 4th quarter valued at approximately $35,248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Silvercorp Metals by 38.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock valued at $57,665,000 after acquiring an additional 2,534,155 shares in the last quarter. Tidal Investments LLC lifted its holdings in Silvercorp Metals by 24.2% in the 3rd quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after purchasing an additional 2,138,301 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Silvercorp Metals by 29.6% in the 4th quarter. Van ECK Associates Corp now owns 6,845,803 shares of the company’s stock worth $57,097,000 after purchasing an additional 1,562,525 shares during the last quarter. 22.30% of the stock is currently 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.