PDT Partners LLC Makes New Investment in Silvercorp Metals Inc. $SVM

Key Points

• PDT Partners LLC bought 659,534 shares of Silvercorp Metals in the second quarter, valued at approximately $6.66 million and representing a 0.30% stake.
• Analysts remain broadly positive: six rate the stock a Buy and one a Hold, resulting in a “Moderate Buy” consensus and an average price target of $10.75.
• Silvercorp reported quarterly EPS of $0.21, matching estimates, while revenue reached $138.67 million. Shares opened at $12.83, with a one-year trading range of $4.50 to $15.77.

PDT Partners LLC bought a new stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 659,534 shares of the company's stock, valued at approximately $6,661,000. PDT Partners LLC owned 0.30% of Silvercorp Metals as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SVM. State of Wyoming acquired a new stake in shares of Silvercorp Metals during the 2nd quarter worth approximately $47,000. Banque Cantonale Vaudoise bought a new position in Silvercorp Metals in the third quarter valued at approximately $57,000. Employees Retirement System of Texas acquired a new position in Silvercorp Metals during the fourth quarter valued at approximately $61,000. TD Waterhouse Canada Inc. raised its position in Silvercorp Metals by 22.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company's stock valued at $62,000 after purchasing an additional 1,374 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Silvercorp Metals by 18.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company's stock worth $63,000 after purchasing an additional 1,170 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research lowered Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. 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 report on Wednesday, August 12th. Finally, Jefferies Financial Group raised 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.75.

Silvercorp Metals Price Performance

Shares of NYSEAMERICAN:SVM opened at $12.83 on Wednesday. The firm has a 50 day simple moving average of $10.56 and a 200 day simple moving average of $11.36. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 106.93 and a beta of 1.15. Silvercorp Metals Inc. has a one year low of $4.50 and a one year high of $15.77. 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 (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. 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 during the quarter, compared to the consensus estimate of $138.70 million. During the same period in the prior year, the business earned $0.08 earnings per share. Research analysts predict that Silvercorp Metals Inc. will post 0.66 earnings per share for the current fiscal year.

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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