Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 6.2% - Here's What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) shares were down 6.2% during trading on Tuesday . The stock traded as low as $4.55 and last traded at $4.55. Approximately 4,920,388 shares traded hands during trading, an increase of 9% from the average daily volume of 4,524,109 shares. The stock had previously closed at $4.85.

Analyst Upgrades and Downgrades

Separately, Roth Capital reaffirmed a "buy" rating and set a $6.75 price objective (up from $6.25) on shares of Silvercorp Metals in a research note on Tuesday, July 1st.

Silvercorp Metals Trading Down 4.1%

The firm has a market capitalization of $1.01 billion, a PE ratio of 15.50 and a beta of 1.01. The business has a 50 day moving average price of $4.03 and a 200-day moving average price of $3.66. The company has a current ratio of 5.05, a quick ratio of 4.95 and a debt-to-equity ratio of 0.13.

Silvercorp Metals Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Thursday, June 26th. Stockholders of record on Friday, June 6th were paid a dividend of $0.0125 per share. This represents a dividend yield of 0.6%. The ex-dividend date was Friday, June 6th. Silvercorp Metals's dividend payout ratio (DPR) is 8.33%.

Hedge Funds Weigh In On Silvercorp Metals

A number of large investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in Silvercorp Metals in the 4th quarter valued at approximately $103,000. Bank of America Corp DE grew its holdings in 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 valued at $3,774,000 after buying an additional 847,547 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Silvercorp Metals during the 4th quarter valued at $46,000. Sowell Financial Services LLC acquired a new stake in Silvercorp Metals during the 1st quarter valued at $77,000. Finally, Legal & General Group Plc grew its holdings in Silvercorp Metals by 3.0% during the 4th quarter. Legal & General Group Plc now owns 195,613 shares of the company's stock valued at $588,000 after buying an additional 5,765 shares during the last quarter. 22.30% of the stock is 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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