Silvercorp Metals (NYSEAMERICAN:SVM) Shares Up 6.9% – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price was up 6.9% during mid-day trading on Friday . The company traded as high as $7.66 and last traded at $7.6970. Approximately 1,162,507 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 5,926,175 shares. The stock had previously closed at $7.20.

Analyst Ratings Changes

Several research firms have commented on SVM. Cantor Fitzgerald set a $7.50 price objective on Silvercorp Metals and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Zacks Research lowered Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. Cormark upgraded Silvercorp Metals to a “moderate buy” rating in a report on Thursday, September 25th. Raymond James Financial reiterated an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, October 10th. Finally, Roth Capital set a $8.25 price target on shares of Silvercorp Metals and gave the stock a “buy” rating in a research report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.88.

Silvercorp Metals Trading Up 8.7%

The business has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $5.20. The company has a current ratio of 4.61, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.71 billion, a PE ratio of 30.05 and a beta of 0.86.

Silvercorp Metals Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a dividend of $0.0125 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a dividend yield of 32.0%. Silvercorp Metals’s payout ratio is currently 8.33%.

Institutional Trading of Silvercorp Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 3,929 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted 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 buying an additional 5,839 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Silvercorp Metals in the 3rd quarter worth about $57,000. PNC Financial Services Group Inc. acquired a new stake in shares of Silvercorp Metals in the 1st quarter worth about $39,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Silvercorp Metals during the 3rd quarter valued at $67,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Silvercorp Metals Company 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.