Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped down prior to trading on Wednesday. The stock had previously closed at $10.51, but opened at $9.96. Silvercorp Metals shares last traded at $10.0430, with a volume of 404,965 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Zacks Research lowered shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. National Bank Financial started coverage on shares of Silvercorp Metals in a research report on Thursday. They set a “sector perform” rating on the stock. Finally, Roth Capital reissued a “buy” rating and set a $14.00 target price (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.

Silvercorp Metals Trading Up 2.7%

The company has a market cap of $2.28 billion, a P/E ratio of 85.92 and a beta of 1.19. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $11.69 and its 200-day moving average price is $11.42.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $138.67 million during the quarter, compared to analysts’ expectations of $138.70 million. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.During the same period in the previous year, the business earned $0.08 earnings per share. As a group, equities research analysts expect that Silvercorp Metals Inc. will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silvercorp Metals

Several institutional investors have recently bought and sold shares of SVM. U S Global Investors Inc. grew its position in Silvercorp Metals by 147.1% during the first quarter. U S Global Investors Inc. now owns 617,663 shares of the company’s stock valued at $6,634,000 after buying an additional 367,663 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Silvercorp Metals in the 2nd quarter worth approximately $1,272,000. Spark Investment Management LLC purchased a new stake in Silvercorp Metals in the 2nd quarter worth approximately $829,000. PDT Partners LLC bought a new stake in Silvercorp Metals during the 2nd quarter worth approximately $6,661,000. Finally, Renaissance Technologies LLC raised its stake in Silvercorp Metals by 14.1% during the 1st quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock worth $30,205,000 after acquiring an additional 348,000 shares during the period. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, development, and operation of precious- and base-metal properties. The company primarily produces silver, lead, and zinc, with revenue generated from the sale of concentrates produced at its mines.

Silvercorp’s principal operating assets are located in China, including the Ying Mining District in Henan Province and the GC Mine in Guangdong Province. Its activities include underground mining, mineral processing, exploration, and project development.