Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down - Time to Sell?

Key Points

• Silvercorp Metals Inc. shares experienced a significant drop, opening at $6.32 after a previous close of $7.05, with latest trading at $6.17.
• Analysts have mixed views on SVM, with four giving a "Buy" rating and one a "Hold" rating, resulting in a consensus target price of $7.88.
• The company has reported a strong financial position, with a debt-to-equity ratio of 0.13 and a current ratio of 4.61, indicating solid liquidity.

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $7.05, but opened at $6.32. Silvercorp Metals shares last traded at $6.17, with a volume of 2,829,969 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on SVM. Raymond James Financial restated an "outperform" rating on shares of Silvercorp Metals in a research note on Friday, October 10th. Roth Capital set a $8.25 price objective on shares of Silvercorp Metals and gave the stock a "buy" rating in a research report on Friday, October 3rd. Cantor Fitzgerald set a $7.50 target price on shares of Silvercorp Metals and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Zacks Research lowered shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Finally, Cormark raised shares of Silvercorp Metals to a "moderate buy" rating in a report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $7.88.

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 stock's fifty day moving average price is $5.61 and its 200-day moving average price is $4.65. The firm has a market cap of $1.39 billion, a PE ratio of 24.52 and a beta of 0.86.

Hedge Funds Weigh In On Silvercorp Metals

Several hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in Silvercorp Metals by 419.2% during the second 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 position in shares of Silvercorp Metals during the 1st quarter worth $39,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Silvercorp Metals in the 1st quarter worth about $46,000. Ballentine Partners LLC purchased a new stake in shares of Silvercorp Metals in the 2nd quarter worth about $50,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Silvercorp Metals in the 1st quarter valued at about $72,000. 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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