Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – What’s Next?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.95, but opened at $13.82. Silvercorp Metals shares last traded at $13.6630, with a volume of 1,029,878 shares changing hands.

Analysts Set New Price Targets

SVM has been the topic of several research analyst reports. Roth Mkm reiterated a “neutral” rating and issued a $12.50 price objective on shares of Silvercorp Metals in a research note on Monday, April 20th. BMO Capital Markets reiterated an “outperform” rating on shares of Silvercorp Metals in a research note on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Silvercorp Metals Stock Down 11.0%

The stock has a market cap of $2.94 billion, a PE ratio of -190.19 and a beta of 1.08. The firm has a 50-day simple moving average of $11.77 and a 200-day simple moving average of $10.09.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Silvercorp Metals by 14.1% in the first quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock worth $30,205,000 after purchasing an additional 348,000 shares during the period. State of Wyoming bought a new position in shares of Silvercorp Metals in the first quarter worth $64,000. Cetera Investment Advisers increased its holdings in shares of Silvercorp Metals by 66.2% in the first quarter. Cetera Investment Advisers now owns 46,117 shares of the company’s stock worth $495,000 after purchasing an additional 18,369 shares during the period. Swiss National Bank increased its holdings in shares of Silvercorp Metals by 1.3% in the first quarter. Swiss National Bank now owns 438,700 shares of the company’s stock worth $4,711,000 after purchasing an additional 5,700 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Silvercorp Metals in the first quarter valued at $205,000. Institutional investors own 22.30% of the company’s stock.

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.