Parvin Asset Management LLC Makes New $2.02 Million Investment in Silvercorp Metals Inc. $SVM

Key Points

• Parvin Asset Management acquired 200,125 Silvercorp Metals shares worth approximately $2.02 million, making SVM about 1.6% of its portfolio and its 10th-largest holding.
• Institutional ownership rose as several funds increased or initiated positions; institutions and hedge funds now own approximately 22.3% of Silvercorp Metals.
• Silvercorp matched quarterly earnings expectations at $0.21 per share on $138.67 million in revenue. Analysts maintain a “Moderate Buy” consensus, though the $10.75 average price target is below the reported $13.07 share price.

Parvin Asset Management LLC acquired a new position in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,125 shares of the company's stock, valued at approximately $2,021,000. Silvercorp Metals comprises approximately 1.6% of Parvin Asset Management LLC's holdings, making the stock its 10th largest position. Parvin Asset Management LLC owned approximately 0.09% of Silvercorp Metals as of its most recent SEC filing.

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

Silvercorp Metals Price Performance

Shares of NYSEAMERICAN:SVM opened at $13.07 on Thursday. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 108.93 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.51 and a quick ratio of 3.46. Silvercorp Metals Inc. has a one year low of $4.50 and a one year high of $15.77. The company's fifty day moving average price is $10.59 and its 200-day moving average price is $11.39.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.21 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 company had revenue of $138.67 million for the quarter, compared to the consensus estimate of $138.70 million. During the same period in the previous year, the firm earned $0.08 earnings per share. On average, equities research analysts anticipate that Silvercorp Metals Inc. will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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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