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

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped up prior to trading on Wednesday . The stock had previously closed at $11.54, but opened at $12.28. Silvercorp Metals shares last traded at $12.3630, with a volume of 706,565 shares trading hands.

Analyst Ratings Changes

SVM has been the subject of a number of recent research reports. Zacks Research cut shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Roth Capital restated a “buy” rating and issued a $14.00 price objective (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Silvercorp Metals currently has an average rating of “Moderate Buy” and an average target price of $10.75.

Silvercorp Metals Price Performance

The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 105.34 and a beta of 1.15. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average is $10.53 and its 200-day moving average is $11.32.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings data on Monday, August 10th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $138.67 million for the quarter, compared to analyst estimates of $138.70 million. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.During the same period in the prior year, the company posted $0.08 EPS. Equities research analysts expect that Silvercorp Metals Inc. will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Silvercorp Metals by 31.6% in the 1st quarter. Royal Bank of Canada now owns 444,453 shares of the company’s stock worth $1,720,000 after purchasing an additional 106,813 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Silvercorp Metals in the first quarter valued at approximately $97,000. Goldman Sachs Group Inc. increased its stake in shares of Silvercorp Metals by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company’s stock valued at $3,273,000 after buying an additional 28,803 shares during the period. Jane Street Group LLC raised its holdings in Silvercorp Metals by 91.4% during the 1st quarter. Jane Street Group LLC now owns 102,296 shares of the company’s stock worth $396,000 after purchasing an additional 48,854 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Silvercorp Metals by 5.7% during the second quarter. Geode Capital Management LLC now owns 123,058 shares of the company’s stock worth $519,000 after buying an additional 6,637 shares during the last quarter. 22.30% of the stock is currently 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.