Silvercorp Metals (NYSEAMERICAN:SVM) Stock Price Down 6.2% – What’s Next?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price fell 6.2% on Wednesday . The company traded as low as $10.10 and last traded at $10.17. 1,111,332 shares were traded during trading, a decline of 83% from the average session volume of 6,428,746 shares. The stock had previously closed at $10.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SVM shares. Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Roth Mkm set a $11.00 price target on Silvercorp Metals in a report on Tuesday, February 10th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Silvercorp Metals in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Silvercorp Metals Stock Down 6.2%

The firm has a market cap of $2.25 billion, a PE ratio of -145.48 and a beta of 0.92. The company’s fifty day moving average price is $11.37 and its two-hundred day moving average price is $8.47.

Hedge Funds Weigh In On Silvercorp Metals

Several hedge funds have recently added to or reduced their stakes in SVM. EverSource Wealth Advisors LLC lifted its stake in Silvercorp Metals by 163.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock valued at $40,000 after buying an additional 3,929 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Silvercorp Metals during the third quarter worth approximately $57,000. Employees Retirement System of Texas purchased a new stake in Silvercorp Metals in the 4th quarter worth approximately $61,000. TD Waterhouse Canada Inc. raised its holdings in Silvercorp Metals by 22.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock valued at $62,000 after acquiring an additional 1,374 shares during the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Silvercorp Metals during the 3rd quarter worth $67,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

Silvercorp Metals Company 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.