Bank of America Corp DE Sells 402,755 Shares of Silvercorp Metals Inc. $SVM

Key Points

• Bank of America cut its Silvercorp Metals stake by 51.8% in the first quarter, selling 402,755 shares and retaining 374,411 shares worth approximately $4.02 million.
• Other institutional investors mostly increased their positions, and hedge funds and institutions collectively own 22.3% of Silvercorp’s stock.
• Silvercorp reported quarterly EPS of $0.21, in line with expectations, on $138.67 million in revenue. Analysts maintain a “Moderate Buy” consensus, although the average price target of $10.75 is below the stock’s reported $12.77 price.

Bank of America Corp DE decreased its holdings in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 51.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 374,411 shares of the company's stock after selling 402,755 shares during the period. Bank of America Corp DE owned about 0.17% of Silvercorp Metals worth $4,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Amundi increased its holdings in shares of Silvercorp Metals by 11.8% in the 1st quarter. Amundi now owns 181,860 shares of the company's stock valued at $1,953,000 after acquiring an additional 19,179 shares during the period. Parvin Asset Management LLC boosted its position in Silvercorp Metals by 0.6% during the first quarter. Parvin Asset Management LLC now owns 205,225 shares of the company's stock valued at $2,204,000 after purchasing an additional 1,175 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Silvercorp Metals by 89.0% during the first quarter. EverSource Wealth Advisors LLC now owns 14,177 shares of the company's stock valued at $152,000 after purchasing an additional 6,674 shares in the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in Silvercorp Metals in the first quarter valued at about $333,000. Finally, Themes Management Co LLC grew its stake in Silvercorp Metals by 77.8% in the first quarter. Themes Management Co LLC now owns 52,048 shares of the company's stock valued at $560,000 after purchasing an additional 22,767 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company's stock.

Silvercorp Metals Stock Down 5.1%

Shares of SVM stock opened at $12.77 on Friday. The stock has a 50 day moving average of $10.66 and a 200 day moving average of $11.42. 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 stock has a market cap of $2.82 billion, a P/E ratio of 106.43 and a beta of 1.15. Silvercorp Metals Inc. has a twelve month low of $4.58 and a twelve month high of $15.77.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $138.67 million during the quarter, compared to analyst estimates of $138.70 million. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.During the same quarter in the previous year, the business earned $0.08 EPS. As a group, sell-side analysts expect that Silvercorp Metals Inc. will post 0.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Roth Capital reiterated a "buy" rating and set a $14.00 price objective (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. Jefferies Financial Group upgraded shares of Silvercorp Metals to a "buy" rating in a research note on Monday, June 15th. Finally, Zacks Research lowered shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Silvercorp Metals has an average rating of "Moderate Buy" and an average price target of $10.75.

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.

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