Pictet Asset Management Holding SA Sells 79,402 Shares of Silvercorp Metals Inc. $SVM

Pictet Asset Management Holding SA cut its position in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 54.1% in the first quarter, HoldingsChannel.com reports. The firm owned 67,391 shares of the company’s stock after selling 79,402 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Silvercorp Metals were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of Silvercorp Metals during the 3rd quarter valued at $57,000. Employees Retirement System of Texas purchased a new stake in Silvercorp Metals in the 4th quarter worth $61,000. TD Waterhouse Canada Inc. increased its stake in Silvercorp Metals by 22.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock worth $62,000 after buying an additional 1,374 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 worth $63,000 after acquiring an additional 1,170 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Silvercorp Metals in the third quarter worth about $67,000. 22.30% of the stock is currently owned by institutional investors.

Silvercorp Metals Price Performance

NYSEAMERICAN:SVM opened at $9.11 on Thursday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -227.69 and a beta of 1.13. Silvercorp Metals Inc. has a 1 year low of $4.26 and a 1 year high of $15.77. The business has a 50 day simple moving average of $11.83 and a 200-day simple moving average of $11.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.58 and a quick ratio of 3.50.

Silvercorp Metals Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, June 25th. Investors of record on Friday, June 5th were given a $0.0125 dividend. This represents a yield of 23.0%. The ex-dividend date of this dividend was Friday, June 5th. Silvercorp Metals’s dividend payout ratio is 8.33%.

Wall Street Analyst Weigh In

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

Silvercorp Metals 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.