Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up - Here's What Happened

Key Points

• Silvercorp Metals shares jumped 8.6%, opening at $12.28 versus the prior close of $11.54, and later trading near $12.36 on volume of roughly 706,565 shares.
• Analyst sentiment remains positive overall: six analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating. Roth Capital raised its price target to $14.00, while the average analyst target is $10.75.
• Silvercorp reported quarterly earnings of $0.21 per share, matching estimates, while revenue of $138.67 million was essentially in line with expectations. Institutional investors own 22.3% of the company, with several major funds recently increasing or initiating positions.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $11.54, but opened at $12.28. Silvercorp Metals shares last traded at $12.3630, with a volume of 706,565 shares.

Wall Street Analysts Forecast Growth

SVM has been the topic of a number of analyst reports. Jefferies Financial Group upgraded shares of Silvercorp Metals to a "buy" rating in a research report on Monday, June 15th. Zacks Research cut Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Roth Capital reissued a "buy" rating and set a $14.00 price target (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Silvercorp Metals Stock Up 8.6%

The firm's 50-day moving average price is $10.42 and its 200 day moving average price is $11.29. The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 104.64 and a beta of 1.15.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.21 EPS for the quarter, hitting analysts' consensus estimates of $0.21. The company had revenue of $138.67 million during the quarter, compared to analysts' expectations of $138.70 million. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.During the same quarter in the previous year, the firm earned $0.08 EPS. On average, sell-side analysts forecast that Silvercorp Metals Inc. will post 0.66 EPS for the current fiscal year.

Silvercorp Metals Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, June 25th. Shareholders of record on Friday, June 5th were given a $0.0125 dividend. The ex-dividend date was Friday, June 5th. This represents a yield of 23.0%. Silvercorp Metals's dividend payout ratio (DPR) is currently 8.33%.

Institutional Trading of Silvercorp Metals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in shares of Silvercorp Metals by 238.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company's stock worth $77,244,000 after acquiring an additional 6,511,389 shares during the last quarter. BlackRock Inc. bought a new stake in Silvercorp Metals during the second quarter valued at $42,564,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Silvercorp Metals during the 2nd quarter worth about $39,719,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Silvercorp Metals by 38.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company's stock valued at $57,665,000 after purchasing an additional 2,534,155 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of Silvercorp Metals by 24.2% during the 3rd quarter. Tidal Investments LLC now owns 10,966,184 shares of the company's stock valued at $69,306,000 after purchasing an additional 2,138,301 shares in the last quarter. 22.30% of the stock is currently owned by institutional investors.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company's core operations are located in the provinces of Henan and Guangxi in the People's Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company's principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.

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