Van ECK Associates Corp Sells 7,486,926 Shares of Silvercorp Metals Inc. $SVM

Key Points

• VanEck Associates sold 7,486,926 shares of Silvercorp Metals, trimming its holding by 58.6% to 5,283,278 shares (about 2.42% of the company) worth roughly $33.39 million.
• Institutional ownership stands at 22.30%, and several funds notably increased stakes during the quarter (Alps Advisors +111.9%, MIRAE ASSET +20.1%, JPMorgan +1,253.6%).
• Analysts rate SVM a "Moderate Buy" (4 Buys, 2 Holds) with an average price target of $9.25, while the stock opened at $11.85 and was recently down about 3.7%.

Van ECK Associates Corp trimmed its position in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 58.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,283,278 shares of the company's stock after selling 7,486,926 shares during the period. Van ECK Associates Corp owned approximately 2.42% of Silvercorp Metals worth $33,389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its holdings in shares of Silvercorp Metals by 111.9% in the 3rd quarter. Alps Advisors Inc. now owns 2,552,762 shares of the company's stock worth $16,133,000 after purchasing an additional 1,347,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Silvercorp Metals by 20.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,604,203 shares of the company's stock valued at $27,927,000 after buying an additional 1,105,820 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Silvercorp Metals by 1,253.6% during the third quarter. JPMorgan Chase & Co. now owns 943,902 shares of the company's stock valued at $5,965,000 after buying an additional 874,170 shares during the last quarter. Man Group plc increased its position in shares of Silvercorp Metals by 1,626.7% during the second quarter. Man Group plc now owns 505,000 shares of the company's stock worth $2,131,000 after acquiring an additional 475,753 shares in the last quarter. Finally, Fiscal Wisdom Wealth Management LLC acquired a new stake in shares of Silvercorp Metals in the 3rd quarter worth about $2,838,000. Institutional investors and hedge funds own 22.30% of the company's stock.

Wall Street Analyst Weigh In

SVM has been the subject of a number of analyst reports. Roth Mkm set a $11.00 price target on Silvercorp Metals in a research note on Tuesday, February 10th. Raymond James Financial restated an "outperform" rating on shares of Silvercorp Metals in a report on Wednesday, January 14th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Silvercorp Metals in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $9.25.

Silvercorp Metals Stock Down 3.7%

SVM stock opened at $11.85 on Thursday. The firm has a market cap of $2.62 billion, a PE ratio of -169.26 and a beta of 0.92. The business has a 50 day moving average of $11.18 and a 200-day moving average of $8.27. Silvercorp Metals Inc. has a 12-month low of $3.15 and a 12-month high of $14.00.

Silvercorp Metals 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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