Sigma Planning Corp Purchases Shares of 84,150 Silvercorp Metals Inc. $SVM

Sigma Planning Corp purchased a new stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 84,150 shares of the company’s stock, valued at approximately $904,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in Silvercorp Metals in the third quarter valued at approximately $57,000. Employees Retirement System of Texas purchased a new stake in shares of Silvercorp Metals during the fourth quarter worth $61,000. TD Waterhouse Canada Inc. grew its stake in Silvercorp Metals by 22.9% during 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 in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Silvercorp Metals by 18.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company’s stock valued at $63,000 after purchasing an additional 1,170 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in Silvercorp Metals in the 3rd quarter valued at $67,000. Institutional investors and hedge funds own 22.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Roth Capital lowered their price objective on Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Zacks Research raised shares of Silvercorp Metals from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 19th. Finally, Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.50.

Silvercorp Metals Stock Performance

Shares of SVM stock opened at $8.92 on Friday. The stock’s 50-day moving average is $11.38 and its two-hundred day moving average is $11.25. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -222.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 3.58. Silvercorp Metals Inc. has a 1 year low of $4.26 and a 1 year high of $15.77.

Silvercorp Metals Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 25th. Stockholders of record on Friday, June 5th were given a dividend of $0.0125 per share. The ex-dividend date was Friday, June 5th. This represents a dividend yield of 23.0%. Silvercorp Metals’s dividend payout ratio (DPR) is 8.33%.

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.