683 Capital Management LLC Lowers Holdings in Silvercorp Metals Inc. $SVM

683 Capital Management LLC decreased its holdings in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 38.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 200,000 shares of the company’s stock after selling 125,000 shares during the quarter. 683 Capital Management LLC’s holdings in Silvercorp Metals were worth $1,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SVM. PDT Partners LLC raised its holdings in Silvercorp Metals by 859.6% in the fourth quarter. PDT Partners LLC now owns 666,129 shares of the company’s stock valued at $5,556,000 after acquiring an additional 596,713 shares in the last quarter. Cetera Investment Advisers raised its holdings in Silvercorp Metals by 87.2% in the fourth quarter. Cetera Investment Advisers now owns 27,748 shares of the company’s stock valued at $231,000 after acquiring an additional 12,923 shares in the last quarter. Jain Global LLC acquired a new stake in Silvercorp Metals in the fourth quarter valued at approximately $180,000. Olympiad Research LP acquired a new stake in Silvercorp Metals in the fourth quarter valued at approximately $189,000. Finally, Amundi raised its holdings in Silvercorp Metals by 17.8% in the fourth quarter. Amundi now owns 162,681 shares of the company’s stock valued at $1,357,000 after acquiring an additional 24,557 shares in the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Silvercorp Metals Stock Down 6.0%

SVM stock opened at $11.88 on Thursday. 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 Inc. has a twelve month low of $3.96 and a twelve month high of $15.77. The company’s 50 day moving average is $12.32 and its two-hundred day moving average is $11.00. The stock has a market cap of $2.63 billion, a P/E ratio of -296.93 and a beta of 1.08.

Silvercorp Metals Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.0125 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a yield of 23.0%. Silvercorp Metals’s dividend payout ratio (DPR) is presently 8.33%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Silvercorp Metals to a “buy” rating in a report on Monday. Roth Mkm raised shares of Silvercorp Metals from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.25 to $13.75 in a report on Monday. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.63.

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.