Silvercorp Metals (NYSEAMERICAN:SVM) Reaches New 12-Month High - Still a Buy?

Key Points

• Silvercorp Metals reached a new 52-week high of $7.34, closing at $7.16 with significant trading volume of over 8.3 million shares.
• Wall Street analysts are mixed on Silvercorp, with ratings varying from "strong buy" to "hold," and a current average price target of $7.88.
• Hedge funds have shown increased interest, with several firms significantly raising their stakes, indicating strong institutional support for the stock.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $7.34 and last traded at $7.16, with a volume of 8300643 shares traded. The stock had previously closed at $7.00.

Wall Street Analysts Forecast Growth

SVM has been the topic of several recent research reports. Cormark upgraded Silvercorp Metals to a "moderate buy" rating in a research report on Thursday, September 25th. Zacks Research downgraded Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Cantor Fitzgerald set a $7.50 price objective on shares of Silvercorp Metals and gave the stock an "overweight" rating in a research report on Monday, September 22nd. Raymond James Financial reiterated an "outperform" rating on shares of Silvercorp Metals in a research note on Thursday, August 7th. Finally, Roth Capital set a $8.25 price objective on shares of Silvercorp Metals and gave the company a "buy" rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $7.88.

Silvercorp Metals Price Performance

The firm has a market cap of $1.57 billion, a PE ratio of 27.54 and a beta of 0.86. The company has a current ratio of 4.61, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $5.11 and a 200 day moving average price of $4.42.

Hedge Funds Weigh In On Silvercorp Metals

Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Silvercorp Metals by 20.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,604,203 shares of the company's stock valued at $27,927,000 after purchasing an additional 1,105,820 shares in the last quarter. Citigroup Inc. grew its holdings in Silvercorp Metals by 8,416.5% during the 1st quarter. Citigroup Inc. now owns 3,573,536 shares of the company's stock valued at $13,780,000 after buying an additional 3,531,576 shares during the last quarter. Sprott Inc. increased its position in Silvercorp Metals by 39.1% during the first quarter. Sprott Inc. now owns 1,354,657 shares of the company's stock worth $5,230,000 after buying an additional 380,946 shares in the last quarter. U S Global Investors Inc. lifted its position in shares of Silvercorp Metals by 277.1% in the second quarter. U S Global Investors Inc. now owns 1,206,666 shares of the company's stock valued at $5,092,000 after acquiring an additional 886,666 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Silvercorp Metals by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company's stock worth $3,273,000 after purchasing an additional 28,803 shares in the last quarter. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

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