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

Key Points

• Shares gapped up: SVM opened at $10.40 after a $9.79 close and last traded at $10.325 on volume of 1,791,648, signaling strong early buying interest.
• Analyst sentiment is broadly positive: Four Buys and two Holds give a consensus "Moderate Buy"; BMO and Raymond James reiterated Outperform and Roth MKM set an $11 target, though the MarketBeat consensus target is $9.25.
• Company fundamentals: Silvercorp is a Canada-based silver, lead and zinc miner operating in Henan and Guangxi, China, with a $2.30B market cap and a negative P/E (-148.84), reflecting current losses.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $9.79, but opened at $10.40. Silvercorp Metals shares last traded at $10.3250, with a volume of 1,791,648 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on SVM. BMO Capital Markets restated an "outperform" rating on shares of Silvercorp Metals in a research report on Friday, January 16th. Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a report on Wednesday, January 14th. Finally, Roth Mkm set a $11.00 price target on shares of Silvercorp Metals in a report on Tuesday, February 10th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.25.

Silvercorp Metals Price Performance

The stock has a 50 day moving average of $11.40 and a two-hundred day moving average of $8.63. The stock has a market capitalization of $2.30 billion, a PE ratio of -148.84 and a beta of 0.92.

Hedge Funds Weigh In On Silvercorp Metals

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Silvercorp Metals by 163.4% in the third quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company's stock valued at $40,000 after purchasing an additional 3,929 shares during the period. Banque Cantonale Vaudoise purchased a new position in Silvercorp Metals in the third quarter valued at about $57,000. Employees Retirement System of Texas acquired a new stake in shares of Silvercorp Metals during the 4th quarter valued at approximately $61,000. TD Waterhouse Canada Inc. lifted its position in shares of Silvercorp Metals by 22.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company's stock valued at $62,000 after acquiring an additional 1,374 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Silvercorp Metals during the 3rd quarter worth approximately $67,000. 22.30% of the stock is owned by institutional investors and hedge funds.

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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