Cibc World Market Inc. Invests $2.62 Million in Silvercorp Metals Inc. $SVM

Key Points

• CIBC World Markets acquired 258,792 Silvercorp Metals shares worth approximately $2.62 million, representing about 0.12% of the company. Institutional investors and hedge funds collectively own 22.3% of SVM.
• Analyst sentiment remains positive, with six Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $10.75. Roth Capital raised its target to $14.00.
• Silvercorp reported quarterly EPS of $0.21, matching estimates, on revenue of approximately $138.67 million. SVM opened at $13.07, up 1.9%, with a market capitalization of about $2.89 billion.

Cibc World Market Inc. acquired a new stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 258,792 shares of the company's stock, valued at approximately $2,618,000. Cibc World Market Inc. owned approximately 0.12% of Silvercorp Metals as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. U S Global Investors Inc. increased its holdings in shares of Silvercorp Metals by 147.1% during the first quarter. U S Global Investors Inc. now owns 617,663 shares of the company's stock valued at $6,634,000 after acquiring an additional 367,663 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Silvercorp Metals by 14.1% during the first quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company's stock worth $30,205,000 after purchasing an additional 348,000 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Silvercorp Metals by 349.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 146,793 shares of the company's stock worth $1,229,000 after purchasing an additional 114,128 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Silvercorp Metals in the 4th quarter worth $1,687,000. Finally, Auxano Advisors LLC bought a new position in shares of Silvercorp Metals in the 4th quarter worth $2,335,000. Institutional investors and hedge funds own 22.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SVM. Jefferies Financial Group raised shares of Silvercorp Metals to a "buy" rating in a research note on Monday, June 15th. Roth Capital reiterated a "buy" rating and set a $14.00 price objective (up from $13.50) on shares of Silvercorp Metals in a report on Wednesday, August 12th. Finally, Zacks Research downgraded shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Silvercorp Metals Stock Up 1.9%

SVM stock opened at $13.07 on Thursday. The firm has a market capitalization of $2.89 billion, a PE ratio of 108.93 and a beta of 1.15. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. Silvercorp Metals Inc. has a twelve month low of $4.50 and a twelve month high of $15.77. The stock's 50 day moving average is $10.59 and its 200-day moving average is $11.39.

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 (EPS) for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $138.67 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.08 earnings per share. Sell-side analysts expect that Silvercorp Metals Inc. will post 0.66 EPS for the current fiscal year.

Silvercorp Metals Company 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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