Silvercorp Metals (NYSEAMERICAN:SVM) Sets New 12-Month 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 hit a new 52-week high during trading on Friday . The company traded as high as $5.40 and last traded at $5.32, with a volume of 935472 shares traded. The stock had previously closed at $5.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James Financial reissued an "outperform" rating on shares of Silvercorp Metals in a research note on Thursday, August 7th. Zacks Research cut Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Finally, Roth Capital reissued a "buy" rating and set a $6.75 target price (up previously from $6.25) on shares of Silvercorp Metals in a research note on Tuesday, July 1st. Two equities 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 currently has a consensus rating of "Moderate Buy" and an average price target of $6.75.

Silvercorp Metals Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.61 and a quick ratio of 4.50. The stock has a 50 day moving average price of $4.71 and a two-hundred day moving average price of $4.17. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 20.31 and a beta of 0.85.

Institutional Investors Weigh In On Silvercorp Metals

A number of institutional investors have recently modified their holdings of SVM. Bank of America Corp DE grew its stake in shares of Silvercorp Metals by 206.4% in the fourth quarter. Bank of America Corp DE now owns 1,258,083 shares of the company's stock valued at $3,774,000 after buying an additional 847,547 shares in the last quarter. Millennium Management LLC grew its stake in shares of Silvercorp Metals by 40.0% in the fourth quarter. Millennium Management LLC now owns 1,948,174 shares of the company's stock valued at $5,850,000 after buying an additional 556,594 shares in the last quarter. Man Group plc grew its stake in shares of Silvercorp Metals by 39.5% in the fourth quarter. Man Group plc now owns 703,947 shares of the company's stock valued at $2,112,000 after buying an additional 199,342 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Silvercorp Metals in the fourth quarter valued at $250,000. Finally, Tidal Investments LLC grew its stake in shares of Silvercorp Metals by 17.8% in the fourth quarter. Tidal Investments LLC now owns 7,556,081 shares of the company's stock valued at $22,668,000 after buying an additional 1,143,210 shares in the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

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.