Silvercorp Metals (NYSEAMERICAN:SVM) Trading 8.5% Higher – What’s Next?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) was up 8.5% during trading on Thursday . The company traded as high as $12.11 and last traded at $12.1250. 366,368 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 4,309,142 shares. The stock had previously closed at $11.18.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. 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 note on Wednesday, August 12th. Zacks Research downgraded shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Jefferies Financial Group raised shares of Silvercorp Metals to a “buy” rating in a report on Monday, June 15th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Silvercorp Metals has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Silvercorp Metals Price Performance

The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $11.25 and its two-hundred day moving average is $11.46. The company has a market capitalization of $2.64 billion, a PE ratio of 99.51 and a beta of 1.22.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its earnings results on Monday, August 10th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $138.67 million during the quarter, compared to analyst estimates of $138.70 million. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. During the same period in the previous year, the firm earned $0.08 earnings per share. On average, equities analysts predict that Silvercorp Metals Inc. will post 0.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SVM. U S Global Investors Inc. boosted its position in Silvercorp Metals by 147.1% during the 1st quarter. U S Global Investors Inc. now owns 617,663 shares of the company’s stock valued at $6,634,000 after acquiring an additional 367,663 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Silvercorp Metals by 14.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock valued at $30,205,000 after purchasing an additional 348,000 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Silvercorp Metals in the 2nd quarter valued at $6,661,000. CIBC Asset Management Inc acquired a new position in shares of Silvercorp Metals in the fourth quarter valued at about $1,687,000. Finally, BlackRock Inc. purchased a new position in Silvercorp Metals during the 2nd quarter worth approximately $42,564,000. 22.30% of the stock is currently owned by institutional investors.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. Its primary products include silver, lead and zinc, with gold also produced or contained in certain deposits.

The company has historically operated mines in China, including the Ying Mining District in Henan province, the GC mine in Guangdong province and the BYP gold-lead-zinc mine. Silvercorp’s activities have included underground mining, mineral processing and exploration aimed at extending mine life and expanding its resource base.

Silvercorp has also expanded its international portfolio through projects in Ecuador, including the El Domo-Curipamba project and the Condor gold project.