Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Short Interest Down 31.7% in April

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 2,330,000 shares, a decrease of 31.7% from the March 31st total of 3,410,000 shares. Based on an average daily trading volume, of 1,930,000 shares, the short-interest ratio is presently 1.2 days. Currently, 1.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price objective on shares of Silvercorp Metals from $6.50 to $6.00 and set a "buy" rating for the company in a research report on Wednesday.

Hedge Funds Weigh In On Silvercorp Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PFG Investments LLC bought a new position in Silvercorp Metals during the first quarter valued at approximately $40,000. Evergreen Capital Management LLC bought a new position in shares of Silvercorp Metals in the third quarter valued at approximately $39,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Silvercorp Metals by 34.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,748 shares of the company's stock valued at $44,000 after purchasing an additional 4,855 shares during the period. PEAK6 Investments LLC bought a new position in shares of Silvercorp Metals in the third quarter valued at approximately $46,000. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Silvercorp Metals by 77.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,479 shares of the company's stock valued at $70,000 after purchasing an additional 11,546 shares during the period. Institutional investors own 22.30% of the company's stock.

Silvercorp Metals Price Performance

Shares of SVM traded down $0.24 during midday trading on Friday, hitting $3.31. The stock had a trading volume of 4,789,102 shares, compared to its average volume of 2,656,684. Silvercorp Metals has a fifty-two week low of $2.08 and a fifty-two week high of $3.98. The stock has a market cap of $586.90 million, a price-to-earnings ratio of 19.47 and a beta of 1.21.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The business had revenue of $58.51 million during the quarter, compared to analyst estimates of $55.10 million. Silvercorp Metals had a net margin of 15.01% and a return on equity of 6.96%. Analysts anticipate that Silvercorp Metals will post 0.2 earnings per share for the current year.

Silvercorp Metals Company Profile

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.