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

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.22, but opened at $9.84. Silvercorp Metals shares last traded at $9.5130, with a volume of 416,605 shares trading hands.

Wall Street Analyst Weigh In

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

Silvercorp Metals Price Performance

The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -233.19 and a beta of 1.13. The company has a current ratio of 3.58, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $11.56 and a two-hundred day moving average price of $11.27.

Silvercorp Metals Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SVM. Arrowstreet Capital Limited Partnership grew its holdings in Silvercorp Metals by 238.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock worth $77,244,000 after buying an additional 6,511,389 shares in the last quarter. Baillie Gifford & Co. bought a new stake in Silvercorp Metals in the fourth quarter worth about $35,248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Silvercorp Metals by 38.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock worth $57,665,000 after purchasing an additional 2,534,155 shares in the last quarter. Tidal Investments LLC grew its position in Silvercorp Metals by 24.2% in the third quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after buying an additional 2,138,301 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Silvercorp Metals by 29.6% in the fourth quarter. Van ECK Associates Corp now owns 6,845,803 shares of the company’s stock valued at $57,097,000 after buying an additional 1,562,525 shares in the last quarter. Institutional investors own 22.30% of the company’s stock.

About Silvercorp Metals

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.