Silvercorp Metals (NYSEAMERICAN:SVM) Trading Down 4.9% - Here's What Happened

Key Points

• Silvercorp Metals' shares fell 4.9%, trading as low as $5.10, significantly below the previous close of $5.39.
• Analysts have mixed views on the stock, with Zacks downgrading it to a "hold," while Roth Capital maintains a "buy" rating with a target price increase to $6.75.
• Institutional investors increased their stake in Silvercorp Metals, with notable increases from Caitong International Asset Management, which raised its position by 419.2% in the second quarter.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) dropped 4.9% during mid-day trading on Tuesday . The stock traded as low as $5.10 and last traded at $5.13. Approximately 2,545,274 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 5,823,723 shares. The stock had previously closed at $5.39.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SVM. Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a research report on Thursday, August 7th. Roth Capital reaffirmed a "buy" rating and set a $6.75 price target (up from $6.25) on shares of Silvercorp Metals in a research report on Tuesday, July 1st. Finally, Zacks Research downgraded Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company 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 quick ratio of 4.50 and a current ratio of 4.61. The company has a market cap of $1.14 billion, a PE ratio of 20.04 and a beta of 0.85. The company's 50-day simple moving average is $4.75 and its 200 day simple moving average is $4.22.

Hedge Funds Weigh In On Silvercorp Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Heartland Consultants Inc. purchased a new position in Silvercorp Metals in the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd boosted its position in 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 valued at $31,000 after buying an additional 5,839 shares during the period. PNC Financial Services Group Inc. purchased a new position in Silvercorp Metals in the 1st quarter valued at approximately $39,000. Welch Group LLC purchased a new position in Silvercorp Metals in the 1st quarter valued at approximately $44,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of Silvercorp Metals during the 1st quarter worth $46,000. 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.