Canaccord Genuity Group Forecasts Strong Price Appreciation for Silvercorp Metals (TSE:SVM) Stock

Key Points

• Canaccord Genuity Group has raised their price target for Silvercorp Metals from C$9.50 to C$13.00, indicating a potential upside of 43.33% from the current price.
• Cormark upgraded Silvercorp Metals to a "moderate buy" rating, contributing to an overall average stock rating of "Buy" with an average target price of C$10.25.
• Recent insider transactions showed a notable decrease in holdings, with Derek Zhihua Liu selling 40,000 shares and Rui Feng selling 30,000 shares of the company's stock.

Silvercorp Metals (TSE:SVM - Get Free Report) had its price target increased by equities researchers at Canaccord Genuity Group from C$9.50 to C$13.00 in a research note issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price target would suggest a potential upside of 43.33% from the stock's current price.

Separately, Cormark raised shares of Silvercorp Metals to a "moderate buy" rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of C$10.25.

Silvercorp Metals Trading Up 0.1%

Silvercorp Metals stock traded up C$0.01 during mid-day trading on Thursday, hitting C$9.07. The company's stock had a trading volume of 646,440 shares, compared to its average volume of 650,145. The firm has a market capitalization of C$1.98 billion, a PE ratio of 37.48, a price-to-earnings-growth ratio of 0.03 and a beta of 1.33. The company has a current ratio of 3.04, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. Silvercorp Metals has a 1 year low of C$4.14 and a 1 year high of C$9.40. The stock's fifty day moving average is C$6.87 and its two-hundred day moving average is C$6.04.

Insiders Place Their Bets

In other news, insider Derek Zhihua Liu sold 40,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of C$6.69, for a total value of C$267,664.00. Following the completion of the sale, the insider directly owned 132,010 shares of the company's stock, valued at approximately C$883,358.12. The trade was a 23.25% decrease in their position. Also, Director Rui Feng sold 30,000 shares of Silvercorp Metals stock in a transaction on Thursday, July 10th. The shares were sold at an average price of C$6.50, for a total transaction of C$195,120.00. 3.67% of the stock is owned by insiders.

About Silvercorp Metals

Silvercorp Metals Inc is a mineral mining company. It acquires, explores, develops, and mines precious and base metal mineral properties at its producing mines and exploration and development projects in China. The group produces silver, gold, lead, and zinc.

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