Silvercorp Metals (NYSEAMERICAN:SVM) Hits New 1-Year High - What's Next?

Key Points

• Silvercorp Metals (NYSEAMERICAN:SVM) shares reached a new 52-week high of $7.75 during recent trading, with significant volume of 1,934,126 shares exchanged.
• Wall Street analysts have mixed ratings on SVM, with a consensus target price of $7.88, where Roth Capital set a target of $8.25 with a "buy" rating.
• Institutional investors have increased their holdings in Silvercorp Metals, with notable stakes growing by over 419% during the second quarter.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $7.58 and last traded at $7.75, with a volume of 1934126 shares traded. The stock had previously closed at $7.18.

Wall Street Analyst Weigh In

SVM has been the subject of a number of recent research reports. Roth Capital set a $8.25 target price on Silvercorp Metals and gave the stock a "buy" rating in a report on Friday, October 3rd. Cantor Fitzgerald set a $7.50 target price on Silvercorp Metals and gave the stock an "overweight" rating in a report on Monday, September 22nd. Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a report on Friday, October 10th. Cormark raised Silvercorp Metals to a "moderate buy" rating in a research note on Thursday, September 25th. Finally, Zacks Research cut Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $7.88.

Silvercorp Metals Trading Up 7.2%

The company has a market cap of $1.68 billion, a price-to-earnings ratio of 29.59 and a beta of 0.86. The firm has a 50 day moving average price of $5.46 and a two-hundred day moving average price of $4.56. The company has a quick ratio of 4.50, a current ratio of 4.61 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On Silvercorp Metals

Several large investors have recently added to or reduced their stakes in SVM. Caitong International Asset Management Co. Ltd grew its stake in Silvercorp Metals by 419.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company's stock worth $31,000 after purchasing an additional 5,839 shares during the period. PNC Financial Services Group Inc. bought a new position in Silvercorp Metals in the first quarter worth approximately $39,000. Baader Bank Aktiengesellschaft bought a new position in Silvercorp Metals in the first quarter worth approximately $46,000. Ballentine Partners LLC bought a new position in Silvercorp Metals in the second quarter worth approximately $50,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Silvercorp Metals in the first quarter worth approximately $72,000. Institutional investors and hedge funds own 22.30% of the company's stock.

About Silvercorp Metals

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.

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