683 Capital Management LLC Cuts Stake in Silvercorp Metals Inc. $SVM

Key Points

• 683 Capital Management LLC reduced its stake in Silvercorp Metals Inc. by 21.7%, now holding approximately 450,000 shares valued at $1.74 million.
• Several institutional investors acquired new positions in Silvercorp Metals, raising the total institutional ownership to 22.30% of the company's stock.
• Wall Street analysts have mixed ratings for Silvercorp Metals, with a majority endorsing a Moderate Buy recommendation and an average target price of $6.75 per share.

683 Capital Management LLC trimmed its holdings in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 21.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,000 shares of the company's stock after selling 125,000 shares during the period. 683 Capital Management LLC owned 0.21% of Silvercorp Metals worth $1,742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Heartland Consultants Inc. bought a new stake in shares of Silvercorp Metals during the 4th quarter valued at $30,000. PNC Financial Services Group Inc. bought a new stake in Silvercorp Metals in the first quarter valued at about $39,000. Welch Group LLC bought a new position in Silvercorp Metals during the first quarter worth about $44,000. Baader Bank Aktiengesellschaft bought a new position in Silvercorp Metals during the first quarter worth about $46,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Silvercorp Metals during the 4th quarter worth about $63,000. 22.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SVM. Zacks Research downgraded shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a research note on Thursday, August 7th. Finally, Roth Capital reissued a "buy" rating and set a $6.75 price target (up from $6.25) on shares of Silvercorp Metals in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $6.75.

Silvercorp Metals Stock Performance

NYSEAMERICAN SVM traded down $0.02 on Friday, hitting $4.92. 6,726,133 shares of the stock traded hands, compared to its average volume of 4,595,513. Silvercorp Metals Inc. has a 12 month low of $2.87 and a 12 month high of $5.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.50 and a current ratio of 4.61. The business's fifty day moving average is $4.66 and its two-hundred day moving average is $4.10. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.92 and a beta of 0.85.

Silvercorp Metals Company Profile

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.