Van ECK Associates Corp Purchases 8,875,001 Shares of Silvercorp Metals Inc. $SVM

Van ECK Associates Corp lifted its position in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 125.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 15,941,612 shares of the company’s stock after buying an additional 8,875,001 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Silvercorp Metals worth $161,025,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Silvercorp Metals by 18.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company’s stock worth $63,000 after purchasing an additional 1,170 shares during the last quarter. Parvin Asset Management LLC increased its position in shares of Silvercorp Metals by 0.6% during the 1st quarter. Parvin Asset Management LLC now owns 205,225 shares of the company’s stock valued at $2,204,000 after purchasing an additional 1,175 shares during the last quarter. DGS Capital Management LLC lifted its stake in shares of Silvercorp Metals by 14.6% in the 4th quarter. DGS Capital Management LLC now owns 25,941 shares of the company’s stock worth $216,000 after purchasing an additional 3,301 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in Silvercorp Metals by 4.2% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 91,700 shares of the company’s stock valued at $925,000 after buying an additional 3,700 shares during the period. Finally, State of Wyoming purchased a new position in shares of Silvercorp Metals during the 2nd quarter worth $47,000. 22.30% of the stock is owned by institutional investors.

Silvercorp Metals Trading Down 5.1%

Shares of SVM stock opened at $12.77 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.46 and a current ratio of 3.51. The stock has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $11.42. The firm has a market capitalization of $2.82 billion, a PE ratio of 106.43 and a beta of 1.15. Silvercorp Metals Inc. has a 52-week low of $4.58 and a 52-week high of $15.77.

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, hitting analysts’ consensus estimates of $0.21. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.The firm had revenue of $138.67 million during the quarter, compared to analyst estimates of $138.70 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, analysts predict that Silvercorp Metals Inc. will post 0.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research cut 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 target (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. 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 an average target price of $10.75.

Silvercorp Metals Profile

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.