Silvercorp Metals Inc. $SVM Shares Newly Acquired by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth opened a position in Silvercorp Metals, buying 118,139 shares worth approximately $1.26 million, or about 0.05% of the company.
• Silvercorp reported quarterly earnings of $0.07 per share, topping the $0.06 analyst consensus; revenue of $72.1 million matched expectations.
• The company authorized repurchases of up to 8.85 million shares, equivalent to 4% of outstanding stock. Analysts’ consensus rating was “Moderate Buy,” with a $14 average price target.

Ashton Thomas Private Wealth LLC bought a new position in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 118,139 shares of the company's stock, valued at approximately $1,261,000. Ashton Thomas Private Wealth LLC owned 0.05% of Silvercorp Metals as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Parvin Asset Management LLC boosted its position in Silvercorp Metals by 0.6% in the 1st quarter. Parvin Asset Management LLC now owns 205,225 shares of the company's stock valued at $2,204,000 after buying an additional 1,175 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of Silvercorp Metals by 26.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,094 shares of the company's stock worth $172,000 after acquiring an additional 3,594 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its position in shares of Silvercorp Metals by 4.2% in the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 91,700 shares of the company's stock worth $925,000 after acquiring an additional 3,700 shares in the last quarter. State of Wyoming purchased a new stake in shares of Silvercorp Metals during the 2nd quarter worth $47,000. Finally, Swiss National Bank lifted its stake in shares of Silvercorp Metals by 1.3% during the 1st quarter. Swiss National Bank now owns 438,700 shares of the company's stock worth $4,711,000 after purchasing an additional 5,700 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors.

Silvercorp Metals Stock Up 9.3%

Silvercorp Metals stock opened at $9.73 on Tuesday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 51.21 and a beta of 1.23. Silvercorp Metals Inc. has a 52 week low of $6.11 and a 52 week high of $15.77. The business's 50-day moving average price is $10.44 and its 200 day moving average price is $11.18. 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 (NYSEAMERICAN:SVM - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%. The firm had revenue of $72.10 million for the quarter, compared to analysts' expectations of $72.10 million. As a group, sell-side analysts anticipate that Silvercorp Metals Inc. will post 0.63 earnings per share for the current year.

Silvercorp Metals Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 27th will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a yield of 29.0%. Silvercorp Metals's dividend payout ratio (DPR) is currently 8.33%.

Silvercorp Metals announced that its Board of Directors has approved a stock repurchase program on Thursday, September 17th that authorizes the company to repurchase 8,850,000 outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4% of its stock through open market purchases. Share repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on SVM shares. Zacks Research lowered shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. National Bank Financial started coverage on shares of Silvercorp Metals in a report on Thursday, October 8th. They issued a "hold" rating on the stock. Finally, Roth Capital reiterated a "buy" rating and issued a $14.00 price objective (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Silvercorp Metals has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian mining company focused on the production and exploration of silver, lead, zinc and gold. Its operating mines are in China, including properties in the Ying Mining District in Henan Province and the GC mine.

The company also has mineral development and exploration interests in Ecuador, including the El Domo copper-gold project and the Condor gold project. Its portfolio spans operating mines and projects at earlier stages of development.

Silvercorp is headquartered in Vancouver, British Columbia.

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