Silvercorp Metals Inc. $SVM Shares Purchased by Citigroup Inc.

Key Points

• Citigroup Inc. has significantly increased its stake in Silvercorp Metals Inc. by 8,416.5%, now owning approximately 3.57 million shares valued at around $13.78 million.
• Institutional investors collectively own 22.30% of Silvercorp Metals, with several funds such as Bank of America and Millennium Management also boosting their holdings during the recent quarters.
• Analysts have issued positive outlooks for Silvercorp Metals, with Roth Capital raising the price target to $6.75 while maintaining a "buy" rating for the stock.

Citigroup Inc. raised its holdings in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 8,416.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,573,536 shares of the company's stock after acquiring an additional 3,531,576 shares during the quarter. Citigroup Inc. owned approximately 1.64% of Silvercorp Metals worth $13,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of SVM. Tidal Investments LLC grew its position in Silvercorp Metals by 17.8% in the 4th quarter. Tidal Investments LLC now owns 7,556,081 shares of the company's stock valued at $22,668,000 after acquiring an additional 1,143,210 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Silvercorp Metals during the 4th quarter worth $2,788,000. Bank of America Corp DE grew its position in shares of Silvercorp Metals by 206.4% during the 4th quarter. Bank of America Corp DE now owns 1,258,083 shares of the company's stock worth $3,774,000 after buying an additional 847,547 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Silvercorp Metals by 37.4% during the 4th quarter. Two Sigma Investments LP now owns 2,444,427 shares of the company's stock worth $7,333,000 after buying an additional 664,806 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Silvercorp Metals by 40.0% during the 4th quarter. Millennium Management LLC now owns 1,948,174 shares of the company's stock worth $5,850,000 after buying an additional 556,594 shares in the last quarter. Institutional investors own 22.30% of the company's stock.

Silvercorp Metals Stock Down 4.2%

SVM stock traded down $0.1950 during trading on Tuesday, reaching $4.3950. 1,355,058 shares of the company traded hands, compared to its average volume of 5,879,469. Silvercorp Metals Inc. has a 12 month low of $2.87 and a 12 month high of $5.32. The business has a 50 day simple moving average of $4.52 and a 200 day simple moving average of $3.92. The company has a market capitalization of $960.48 million, a price-to-earnings ratio of 16.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.50 and a current ratio of 4.61.

Silvercorp Metals Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Thursday, June 26th. Shareholders of record on Friday, June 6th were paid a $0.0125 dividend. The ex-dividend date was Friday, June 6th. This represents a yield of 60.0%. Silvercorp Metals's dividend payout ratio (DPR) is 8.33%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SVM. Raymond James Financial reissued an "outperform" rating on shares of Silvercorp Metals in a research report on Thursday, August 7th. Roth Capital reissued a "buy" rating and set a $6.75 price target (up previously from $6.25) on shares of Silvercorp Metals in a research report on Tuesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Silvercorp Metals has an average rating of "Buy" and an average target price of $5.93.

About Silvercorp Metals

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.