Silvercorp Metals (NYSEAMERICAN:SVM) Sets New 1-Year High - Should You Buy?

Key Points

• Silvercorp Metals reached a new 12-month high of $5.71, closing at $5.63 with significant trading volume of 812,431 shares.
• Analysts have mixed ratings on the stock, with **Raymond James** giving an "outperform" rating while **Zacks Research** downgraded it from "strong-buy" to "hold"; the consensus rating is "Moderate Buy" with a price target averaging **$6.75**.
• Institutional investment in Silvercorp Metals has increased significantly, with notable purchases from firms like **Man Group plc**, which raised its holdings by **1,626.7%**, indicating growing confidence in the company.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $5.71 and last traded at $5.63, with a volume of 812431 shares. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a report on Thursday, August 7th. Zacks Research cut Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a report 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 report 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. According to MarketBeat, Silvercorp Metals presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.75.

Silvercorp Metals Stock Performance

The firm has a fifty day moving average of $4.77 and a 200 day moving average of $4.25. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 23.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.61 and a quick ratio of 4.50.

Institutional Investors Weigh In On Silvercorp Metals

A number of hedge funds have recently modified their holdings of SVM. Citigroup Inc. grew its position in Silvercorp Metals by 8,416.5% in the first quarter. Citigroup Inc. now owns 3,573,536 shares of the company's stock worth $13,780,000 after acquiring an additional 3,531,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Silvercorp Metals by 20.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,604,203 shares of the company's stock worth $27,927,000 after purchasing an additional 1,105,820 shares during the period. U S Global Investors Inc. grew its holdings in shares of Silvercorp Metals by 277.1% during the 2nd quarter. U S Global Investors Inc. now owns 1,206,666 shares of the company's stock worth $5,092,000 after purchasing an additional 886,666 shares during the period. Bank of America Corp DE increased its position in shares of Silvercorp Metals by 206.4% during the 4th quarter. Bank of America Corp DE now owns 1,258,083 shares of the company's stock worth $3,774,000 after purchasing an additional 847,547 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Silvercorp Metals by 37.4% in the 4th quarter. Two Sigma Investments LP now owns 2,444,427 shares of the company's stock valued at $7,333,000 after buying an additional 664,806 shares during the period. 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.