Silvercorp Metals (TSE:SVM) Hits New 1-Year High Following Analyst Upgrade

Silvercorp Metals Inc. (TSE:SVM) reached a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$13.00 to C$17.50. The company traded as high as C$16.92 and last traded at C$16.49, with a volume of 264702 shares trading hands. The stock had previously closed at C$15.74.

SVM has been the subject of a number of other research reports. Canaccord Genuity Group increased their price objective on Silvercorp Metals from C$9.50 to C$13.00 in a research report on Thursday, October 2nd. Cormark raised shares of Silvercorp Metals to a “moderate buy” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Silvercorp Metals currently has an average rating of “Buy” and an average target price of C$15.25.

Insider Activity

In related news, Director Yikang Liu sold 9,999 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of C$11.84, for a total value of C$118,388.16. Following the transaction, the director directly owned 113,333 shares in the company, valued at approximately C$1,341,862.72. This trade represents a 8.11% decrease in their position. Corporate insiders own 3.67% of the company’s stock.

Silvercorp Metals Stock Performance

The company has a current ratio of 3.04, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. The company has a market cap of C$3.63 billion, a P/E ratio of 149.91, a P/E/G ratio of 0.03 and a beta of 2.07. The firm’s fifty day moving average price is C$11.30 and its 200-day moving average price is C$8.85.

Silvercorp Metals (TSE:SVM) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.10 EPS for the quarter. The company had revenue of C$116.03 million during the quarter. Silvercorp Metals had a return on equity of 9.91% and a net margin of 23.07%. As a group, research analysts forecast that Silvercorp Metals Inc. will post 0.5394046 EPS for the current fiscal year.

About Silvercorp Metals

Silvercorp Metals Inc is a mineral mining company. It acquires, explores, develops, and mines precious and base metal mineral properties at its producing mines and exploration and development projects in China. The group produces silver, gold, lead, and zinc.