1,899,008 Shares in Silvercorp Metals Inc. $SVM Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 1,899,008 shares of Silvercorp Metals during the second quarter, valued at approximately $19.18 million and representing 0.86% of the company.
• Institutional investors and hedge funds own 22.30% of Silvercorp Metals, while several firms increased their positions and State of Wyoming initiated a new stake.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $14.00 price target. Silvercorp’s latest quarterly results met expectations at $0.21 EPS on $138.67 million in revenue.

Bank of America Corp DE acquired a new stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,899,008 shares of the company's stock, valued at approximately $19,180,000. Bank of America Corp DE owned 0.86% of Silvercorp Metals at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Silvercorp Metals by 18.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company's stock valued at $63,000 after purchasing an additional 1,170 shares in the last quarter. Parvin Asset Management LLC boosted its position in Silvercorp Metals by 0.6% in the first quarter. Parvin Asset Management LLC now owns 205,225 shares of the company's stock valued at $2,204,000 after buying an additional 1,175 shares in the last quarter. DGS Capital Management LLC grew its stake in Silvercorp Metals by 14.6% during the fourth quarter. DGS Capital Management LLC now owns 25,941 shares of the company's stock worth $216,000 after buying an additional 3,301 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its stake in Silvercorp Metals by 4.2% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 91,700 shares of the company's stock worth $925,000 after buying an additional 3,700 shares during the last quarter. Finally, State of Wyoming bought a new stake in Silvercorp Metals during the second quarter worth about $47,000. 22.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports 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 restated a "buy" rating and set a $14.00 price target (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Finally, Zacks Research cut Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Silvercorp Metals has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Silvercorp Metals Stock Performance

Shares of NYSEAMERICAN:SVM opened at $11.34 on Friday. The stock has a market capitalization of $2.51 billion, a P/E ratio of 94.51 and a beta of 1.22. Silvercorp Metals Inc. has a 1-year low of $5.80 and a 1-year high of $15.77. The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $11.45 and a two-hundred day moving average price of $11.44.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.21. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The company had revenue of $138.67 million for the quarter, compared to the consensus estimate of $138.70 million. During the same period in the prior year, the company posted $0.08 EPS. Equities analysts predict that Silvercorp Metals Inc. will post 0.67 earnings per share for the current year.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. Its primary products include silver, lead and zinc, with gold also produced or contained in certain deposits.

The company has historically operated mines in China, including the Ying Mining District in Henan province, the GC mine in Guangdong province and the BYP gold-lead-zinc mine. Silvercorp's activities have included underground mining, mineral processing and exploration aimed at extending mine life and expanding its resource base.

Silvercorp has also expanded its international portfolio through projects in Ecuador, including the El Domo-Curipamba project and the Condor gold project.

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