Silvercorp Metals (NYSEAMERICAN:SVM) Trading 5.8% Higher – Time to Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) rose 5.8% on Wednesday . The company traded as high as $10.19 and last traded at $10.0790. Approximately 773,752 shares traded hands during trading, a decline of 84% from the average session volume of 4,867,316 shares. The stock had previously closed at $9.53.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SVM shares. Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Zacks Research lowered Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Roth Capital dropped their price target 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. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Silvercorp Metals has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

Silvercorp Metals Stock Performance

The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -249.06 and a beta of 1.13. The company has a current ratio of 3.58, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average is $11.15 and its 200 day moving average is $11.28.

Silvercorp Metals Dividend Announcement

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

Institutional Trading of Silvercorp Metals

Hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in Silvercorp Metals by 238.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock valued at $77,244,000 after purchasing an additional 6,511,389 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Silvercorp Metals during the fourth quarter worth $35,248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Silvercorp Metals by 38.4% in the third 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 during the period. Tidal Investments LLC boosted its position in shares of Silvercorp Metals by 24.2% in the third quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock valued at $69,306,000 after acquiring an additional 2,138,301 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Silvercorp Metals by 29.6% in the fourth quarter. Van ECK Associates Corp now owns 6,845,803 shares of the company’s stock valued at $57,097,000 after acquiring an additional 1,562,525 shares in the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

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.