Silvercorp Metals (NYSEAMERICAN:SVM) Hits New 52-Week High - Should You Buy?

Key Points

• Silvercorp Metals Inc. has reached a new 52-week high, trading at $5.32, with significant trading volume of 935,472 shares.
• The company has a consensus rating of "Moderate Buy," with a target price increase to $6.75 according to Roth Capital.
• Institutional investors have been actively buying, with Citigroup increasing its position by 8,416.5%, now owning over 3.5 million shares.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $5.40 and last traded at $5.32, with a volume of 935472 shares trading hands. The stock had previously closed at $5.16.

Wall Street Analyst Weigh In

SVM has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Raymond James Financial restated an "outperform" rating on shares of Silvercorp Metals in a report on Thursday, August 7th. Finally, Roth Capital restated a "buy" rating and issued a $6.75 price objective (up previously from $6.25) on shares of Silvercorp Metals in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Silvercorp Metals currently has a consensus rating of "Moderate Buy" and an average price target of $6.75.

Silvercorp Metals Stock Up 2.2%

The firm has a market cap of $1.15 billion, a PE ratio of 20.23 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.50 and a current ratio of 4.61. The firm's 50-day moving average price is $4.73 and its two-hundred day moving average price is $4.19.

Institutional Trading of Silvercorp Metals

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in Silvercorp Metals by 3.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,683 shares of the company's stock worth $329,000 after purchasing an additional 2,581 shares during the period. TD Asset Management Inc boosted its stake in Silvercorp Metals by 1.9% during the 1st quarter. TD Asset Management Inc now owns 228,334 shares of the company's stock worth $880,000 after purchasing an additional 4,342 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Silvercorp Metals by 22.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,779 shares of the company's stock worth $109,000 after purchasing an additional 4,790 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Silvercorp Metals by 419.2% during the 2nd 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. Finally, Geode Capital Management LLC boosted its stake in Silvercorp Metals by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 123,058 shares of the company's stock worth $519,000 after purchasing an additional 6,637 shares during the period. Hedge funds and other institutional investors 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.