Connor Clark & Lunn Investment Management Ltd. Decreases Position in Silvercorp Metals Inc. $SVM

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 21.2% in the second quarter, HoldingsChannel.com reports. The firm owned 4,008,282 shares of the company’s stock after selling 1,078,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Silvercorp Metals were worth $16,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SVM. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 buying an additional 5,839 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Silvercorp Metals in the 1st quarter valued at about $39,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Silvercorp Metals in the 1st quarter valued at approximately $46,000. Ballentine Partners LLC purchased a new position in Silvercorp Metals in the 2nd quarter valued at $50,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Silvercorp Metals by 5,094.3% in the first quarter. Harbour Investments Inc. now owns 21,141 shares of the company’s stock valued at $82,000 after acquiring an additional 20,734 shares in the last quarter. Institutional investors and hedge funds own 22.30% of the company’s stock.

Analysts Set New Price Targets

SVM has been the topic of several recent analyst reports. Roth Capital set a $8.25 target price on Silvercorp Metals and gave the stock a “buy” rating in a research report on Friday, October 3rd. Zacks Research downgraded Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Cantor Fitzgerald set a $7.50 price objective on Silvercorp Metals and gave the stock an “overweight” rating in a report on Monday, September 22nd. Cormark raised Silvercorp Metals to a “moderate buy” rating in a report on Thursday, September 25th. Finally, Raymond James Financial restated an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, October 10th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.88.

Silvercorp Metals Price Performance

Shares of NYSEAMERICAN:SVM opened at $6.80 on Tuesday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 26.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.61 and a quick ratio of 4.50. The business’s 50 day simple moving average is $6.14 and its 200-day simple moving average is $4.94. Silvercorp Metals Inc. has a 12 month low of $2.87 and a 12 month high of $7.78.

Silvercorp Metals Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be issued a $0.0125 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a yield of 40.0%. Silvercorp Metals’s dividend payout ratio is 8.33%.

Silvercorp Metals Profile

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.