Silvercorp Metals Inc. $SVM Shares Purchased by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Silvercorp Metals stake by 7.4% in the third quarter, adding 244,058 shares to hold about 3.55 million shares, worth roughly $37.9 million.
• Other institutional investors also built positions, including VanECK, which more than doubled its stake; institutions and hedge funds collectively owned 22.3% of the stock.
• Silvercorp beat quarterly earnings estimates by one cent per share, while analysts’ consensus rating was “Moderate Buy” with a $14 average price target. The company also authorized a buyback of up to 4% of its shares.

Alps Advisors Inc. raised its position in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,554,283 shares of the company's stock after buying an additional 244,058 shares during the quarter. Alps Advisors Inc. owned about 1.61% of Silvercorp Metals worth $37,924,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in Silvercorp Metals by 125.6% during the 2nd quarter. Van ECK Associates Corp now owns 15,941,612 shares of the company's stock valued at $161,025,000 after purchasing an additional 8,875,001 shares in the last quarter. BlackRock Inc. acquired a new stake in Silvercorp Metals in the 2nd quarter valued at $42,564,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Silvercorp Metals during the second quarter valued at approximately $39,719,000. Bank of America Corp DE purchased a new stake in shares of Silvercorp Metals during the 2nd quarter worth about $19,180,000. Finally, PDT Partners LLC acquired a new position in Silvercorp Metals in the second quarter valued at about $6,661,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. National Bank Financial assumed coverage on shares of Silvercorp Metals in a research report on Thursday, October 8th. They issued a "hold" rating for the company. Zacks Research cut Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Roth Capital reaffirmed 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. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.00.

Silvercorp Metals Trading Up 6.7%

Shares of SVM opened at $8.90 on Friday. 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 Inc. has a twelve month low of $5.97 and a twelve month high of $15.77. The stock has a market cap of $1.97 billion, a PE ratio of 46.84 and a beta of 1.23. The business's 50-day moving average price is $10.50 and its 200-day moving average price is $11.19.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $72.10 million for the quarter, compared to the consensus estimate of $72.10 million. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. On average, equities analysts forecast that Silvercorp Metals Inc. will post 0.63 EPS for the current fiscal year.

Silvercorp Metals Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be issued a dividend of $0.0125 per share. The ex-dividend date is Friday, November 27th. This represents a dividend yield of 29.0%. Silvercorp Metals's payout ratio is currently 8.33%.

Silvercorp Metals declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 17th that allows the company to repurchase 8,850,000 shares. This repurchase authorization allows the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Silvercorp Metals Profile

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. The company's production profile is centered on silver, lead and zinc, with its operations and mineral projects located primarily in China and Ecuador.

In China, Silvercorp operates the Ying Mining District in Henan Province, which includes the Ying, HPG and TLP mines. These underground operations produce silver-lead and zinc-lead concentrates for sale to smelters and other customers.

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