Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 7.6% - What's Next?

Key Points

• Silvercorp Metals' shares fell by 7.6%, trading at $6.77 after closing at $7.33, with decreased trading volume compared to the average.
• Analysts have mixed recommendations, with four analysts rating it as a Buy and one as a Hold, reflecting a consensus target price of $7.88.
• Institutional investments have surged, with Citigroup increasing its holdings by 8,416.5% in the first quarter, indicating growing confidence in the company.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s share price traded down 7.6% during mid-day trading on Thursday . The stock traded as low as $6.79 and last traded at $6.77. 5,569,180 shares were traded during mid-day trading, a decline of 7% from the average session volume of 5,978,413 shares. The stock had previously closed at $7.33.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Cormark raised Silvercorp Metals to a "moderate buy" rating in a research report on Thursday, September 25th. Roth Capital set a $8.25 price target on Silvercorp Metals and gave the stock a "buy" rating in a report on Friday, October 3rd. Zacks Research cut 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. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Silvercorp Metals presently has an average rating of "Moderate Buy" and a consensus target price of $7.88.

Silvercorp Metals Trading Down 6.4%

The company has a market capitalization of $1.50 billion, a P/E ratio of 26.39 and a beta of 0.86. The company's fifty day simple moving average is $5.26 and its 200-day simple moving average is $4.48. 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 Investors Weigh In On Silvercorp Metals

Several institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its holdings 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 buying an additional 1,105,820 shares in the last quarter. U S Global Investors Inc. increased 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 buying an additional 886,666 shares in the last quarter. Alps Advisors Inc. raised its stake in Silvercorp Metals by 536.0% in the 1st quarter. Alps Advisors Inc. now owns 627,376 shares of the company's stock valued at $2,428,000 after purchasing an additional 528,736 shares during the last quarter. Finally, Man Group plc raised its stake in Silvercorp Metals by 1,626.7% in the 2nd quarter. Man Group plc now owns 505,000 shares of the company's stock valued at $2,131,000 after purchasing an additional 475,753 shares during the last quarter. Institutional investors and hedge funds 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.

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