Silvercorp Metals (NYSEAMERICAN:SVM) Reaches New 52-Week High - Still a Buy?

Key Points

• Silvercorp Metals recently reached a new 52-week high of $6.75, closing at $6.72 with over 1.2 million shares traded.
• Analysts have mixed ratings for Silvercorp, with one upgrading it to a "moderate buy" while others have issued "hold" ratings, resulting in an average target price of $7.13.
• Institutional investors have significantly increased their stakes in Silvercorp Metals, with Caitong International Asset Management raising its holdings by 419.2% in the last quarter.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $6.75 and last traded at $6.72, with a volume of 1213307 shares trading hands. The stock had previously closed at $6.32.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SVM shares. Cormark raised Silvercorp Metals to a "moderate buy" rating in a research note 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 Silvercorp Metals and gave the stock an "overweight" rating in a report on Monday, September 22nd. 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 set a $6.75 price objective (up from $6.25) on shares of Silvercorp Metals in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $7.13.

Silvercorp Metals Price Performance

The stock has a fifty day moving average price of $4.94 and a 200-day moving average price of $4.35. The firm has a market capitalization of $1.42 billion, a PE ratio of 25.02 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.

Institutional Trading of Silvercorp Metals

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Silvercorp Metals by 419.2% in 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 in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Silvercorp Metals in the 1st quarter worth $39,000. Ballentine Partners LLC acquired a new stake in shares of Silvercorp Metals in the 2nd quarter worth $50,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Silvercorp Metals in the 1st quarter worth $46,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Silvercorp Metals in the 2nd quarter worth $73,000. Institutional investors and hedge funds 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.

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