Silvercorp Metals (NYSEAMERICAN:SVM) Rating Lowered to "Hold" at Zacks Research

Key Points

• Silvercorp Metals has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, indicating a shift in analyst sentiment.
• The current consensus rating on Silvercorp Metals stock remains a "Moderate Buy" with a target price of $6.75, even as Zacks made its downgrade.
• Recent institutional investor activity shows significant interest in Silvercorp Metals, with notable increases in holdings by firms such as Bank of America Corp DE, which raised its stake by 206.4%.

Zacks Research lowered shares of Silvercorp Metals (NYSEAMERICAN:SVM - Free Report) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a research report on Thursday, August 7th. Roth Capital restated a "buy" rating and set a $6.75 price objective (up from $6.25) on shares of Silvercorp Metals in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.75.

Silvercorp Metals Stock Up 3.7%

NYSEAMERICAN SVM traded up $0.18 during trading hours on Wednesday, hitting $5.02. The company's stock had a trading volume of 6,866,145 shares, compared to its average volume of 5,814,790. The company has a market capitalization of $1.10 billion, a PE ratio of 19.33 and a beta of 0.85. The company has a current ratio of 4.61, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. Silvercorp Metals has a 52 week low of $2.87 and a 52 week high of $5.32. The company's 50-day simple moving average is $4.59 and its two-hundred day simple moving average is $4.04.

Institutional Trading of Silvercorp Metals

Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in Silvercorp Metals by 419.2% in the second quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company's stock worth $31,000 after acquiring an additional 5,839 shares during the period. First Heartland Consultants Inc. purchased a new stake in shares of Silvercorp Metals during the 4th quarter worth approximately $30,000. PNC Financial Services Group Inc. bought a new stake in shares of Silvercorp Metals in the 1st quarter worth approximately $39,000. Welch Group LLC bought a new stake in shares of Silvercorp Metals in the 1st quarter worth approximately $44,000. Finally, Ballentine Partners LLC purchased a new position in Silvercorp Metals in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 22.30% of the company's stock.

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.