Van ECK Associates Corp Buys 8,875,001 Shares of Silvercorp Metals Inc. $SVM

Key Points

• Van ECK Associates more than doubled its Silvercorp Metals stake in the second quarter, adding 8.88 million shares to own 15.94 million shares, or approximately 7.21% of the company.
• Other institutional investors also initiated or expanded positions, bringing total hedge fund and institutional ownership to 22.30% of Silvercorp Metals.
• Silvercorp reported quarterly EPS of $0.21, matching estimates, and revenue of $138.67 million. Analysts maintain a “Moderate Buy” consensus, with six Buy ratings and one Hold, although the stock was recently trading down 5.1% at $12.77.

Van ECK Associates Corp grew its stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 125.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,941,612 shares of the company's stock after buying an additional 8,875,001 shares during the period. Van ECK Associates Corp owned approximately 7.21% of Silvercorp Metals worth $161,025,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in shares of Silvercorp Metals in the 2nd quarter worth about $252,000. Public Employees Retirement System of Ohio purchased a new position in shares of Silvercorp Metals during the 2nd quarter valued at about $635,000. Capstone Investment Advisors LLC purchased a new position in shares of Silvercorp Metals during the 2nd quarter valued at about $174,000. Parvin Asset Management LLC bought a new stake in Silvercorp Metals in the 2nd quarter worth approximately $2,021,000. Finally, Bank of America Corp DE purchased a new stake in Silvercorp Metals in the second quarter worth approximately $19,180,000. Hedge funds and other institutional investors own 22.30% of the company's stock.

Silvercorp Metals Stock Down 5.1%

Shares of Silvercorp Metals stock opened at $12.77 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.46 and a current ratio of 3.51. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 106.43 and a beta of 1.15. Silvercorp Metals Inc. has a 52-week low of $4.58 and a 52-week high of $15.77. The company's 50 day moving average price is $10.66 and its 200-day moving average price is $11.42.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last issued 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 analyst estimates of $138.70 million. During the same period last year, the business earned $0.08 EPS. Equities research analysts forecast that Silvercorp Metals Inc. will post 0.66 EPS for the current year.

Analysts Set New Price Targets

SVM has been the topic of several research reports. Zacks Research downgraded shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Jefferies Financial Group raised shares of Silvercorp Metals to a "buy" rating in a report on Monday, June 15th. Finally, Roth Capital reiterated a "buy" rating and issued a $14.00 target price (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Silvercorp Metals has an average rating of "Moderate Buy" and an average 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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