Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 4.6% - Here's What Happened

Key Points

• Silvercorp Metals shares fell 4.6% to $9.324 during Tuesday’s trading, with volume down 89% from the average session level.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $14.00; Roth Capital raised its target to $14 while other firms maintained or initiated Hold ratings.
• The company’s latest quarterly results met expectations, reporting $0.21 EPS and $138.67 million in revenue, while institutional investors own 22.30% of its stock.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) fell 4.6% during mid-day trading on Tuesday. The company traded as low as $9.18 and last traded at $9.3240. 461,512 shares were traded during trading, a decline of 89% from the average session volume of 4,018,480 shares. The stock had previously closed at $9.77.

Analyst Upgrades and Downgrades

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

Silvercorp Metals Price Performance

The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $11.59 and a two-hundred day moving average price of $11.42. The stock has a market capitalization of $2.09 billion, a P/E ratio of 78.71 and a beta of 1.19.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $138.70 million. During the same quarter in the previous year, the business posted $0.08 EPS. On average, analysts expect that Silvercorp Metals Inc. will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new position in Silvercorp Metals in the 2nd quarter worth approximately $47,000. Banque Cantonale Vaudoise bought a new position in Silvercorp Metals in the 1st quarter valued at approximately $69,000. Leonteq Securities AG purchased a new stake in Silvercorp Metals during the 1st quarter valued at $79,000. Caitong International Asset Management Co. Ltd purchased a new stake in Silvercorp Metals during the 4th quarter valued at $82,000. Finally, Ieq Capital LLC purchased a new stake in Silvercorp Metals during the 2nd quarter valued at $101,000. Institutional investors own 22.30% of the company's stock.

About Silvercorp Metals

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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