Silvercorp Metals (NYSEAMERICAN:SVM) Trading 8.5% Higher - Time to Buy?

Key Points

• Silvercorp Metals shares jumped 8.5% to about $12.13, though trading volume was 91% below the stock’s average daily volume.
• Analyst sentiment remains favorable, with six Buy ratings and one Hold rating, producing a “Moderate Buy” consensus; Roth Capital raised its price target to $14, while the overall consensus target is $10.75.
• The company met quarterly earnings expectations with $0.21 EPS and $138.67 million in revenue. Silvercorp has a strong liquidity position, low debt-to-equity ratio, and institutional investors own 22.3% of its shares.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s stock price shot up 8.5% on Thursday . The company traded as high as $12.11 and last traded at $12.1250. Approximately 366,368 shares traded hands during trading, a decline of 91% from the average daily volume of 4,309,142 shares. The stock had previously closed at $11.18.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Zacks Research downgraded shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a report 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 reissued a "buy" rating and set a $14.00 price target (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.75.

Silvercorp Metals Trading Up 8.8%

The company has a debt-to-equity ratio of 0.10, a current ratio of 3.51 and a quick ratio of 3.46. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 101.47 and a beta of 1.22. The business's 50-day simple moving average is $11.15 and its 200-day simple moving average is $11.47.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The business had revenue of $138.67 million for the quarter, compared to analyst estimates of $138.70 million. During the same period in the prior year, the business earned $0.08 earnings per share. Research analysts predict that Silvercorp Metals Inc. will post 0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silvercorp Metals

Institutional investors have recently made changes to their positions in the stock. U S Global Investors Inc. grew its stake in Silvercorp Metals by 147.1% in the 1st quarter. U S Global Investors Inc. now owns 617,663 shares of the company's stock worth $6,634,000 after acquiring an additional 367,663 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Silvercorp Metals by 14.1% during the first quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company's stock worth $30,205,000 after purchasing an additional 348,000 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Silvercorp Metals during the second quarter worth $6,661,000. CIBC Asset Management Inc purchased a new stake in shares of Silvercorp Metals in the fourth quarter valued at $1,687,000. Finally, BlackRock Inc. purchased a new stake in shares of Silvercorp Metals in the second quarter valued at $42,564,000. 22.30% of the stock is owned by institutional investors and hedge funds.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. Its primary products include silver, lead and zinc, with gold also produced or contained in certain deposits.

The company has historically operated mines in China, including the Ying Mining District in Henan province, the GC mine in Guangdong province and the BYP gold-lead-zinc mine. Silvercorp's activities have included underground mining, mineral processing and exploration aimed at extending mine life and expanding its resource base.

Silvercorp has also expanded its international portfolio through projects in Ecuador, including the El Domo-Curipamba project and the Condor gold project.

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