Connor Clark & Lunn Investment Management Ltd. Invests $39.72 Million in Silvercorp Metals Inc. $SVM

Key Points

• Connor Clark & Lunn Investment Management acquired 3.93 million Silvercorp Metals shares worth approximately $39.72 million, representing a 1.78% stake. Institutional investors and hedge funds collectively own 22.30% of the company.
• Silvercorp reported quarterly revenue of $138.67 million and earnings of $0.21 per share, matching analyst estimates and improving from $0.08 per share a year earlier.
• Analyst sentiment remains positive, with six Buy ratings and one Hold rating producing a “Moderate Buy” consensus, although the $10.75 average price target is below the stock’s reported $12.65 price.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,930,238 shares of the company's stock, valued at approximately $39,719,000. Connor Clark & Lunn Investment Management Ltd. owned 1.78% of Silvercorp Metals as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Royal Bank of Canada raised its stake in Silvercorp Metals by 31.6% in the first quarter. Royal Bank of Canada now owns 444,453 shares of the company's stock valued at $1,720,000 after buying an additional 106,813 shares during the period. NewEdge Advisors LLC acquired a new stake in Silvercorp Metals during the 1st quarter valued at $97,000. Goldman Sachs Group Inc. increased its holdings in shares of Silvercorp Metals by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company's stock valued at $3,273,000 after purchasing an additional 28,803 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Silvercorp Metals by 91.4% during the 1st quarter. Jane Street Group LLC now owns 102,296 shares of the company's stock worth $396,000 after buying an additional 48,854 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Silvercorp Metals by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 123,058 shares of the company's stock valued at $519,000 after acquiring an additional 6,637 shares during the period. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Silvercorp Metals Price Performance

Shares of NYSEAMERICAN:SVM opened at $12.65 on Tuesday. The firm has a 50 day moving average of $10.56 and a 200-day moving average of $11.35. The stock has a market capitalization of $2.80 billion, a PE ratio of 105.43 and a beta of 1.15. The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10. Silvercorp Metals Inc. has a 12 month low of $4.50 and a 12 month high of $15.77.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last posted 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. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The business had revenue of $138.67 million for the quarter, compared to analyst estimates of $138.70 million. During the same quarter last year, the business posted $0.08 EPS. On average, equities research analysts predict that Silvercorp Metals Inc. will post 0.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SVM. Zacks Research downgraded shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Jefferies Financial Group upgraded shares of Silvercorp Metals to a "buy" rating in a research report on Monday, June 15th. Finally, Roth Capital restated 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. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.75.

About Silvercorp Metals

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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