Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up - Should You Buy?

Key Points

• Silvercorp Metals' stock price gapped up from $5.88 to $6.03 before settling at $5.93 during high trading volume of 808,567 shares.
• Recent analyst ratings show a consensus of a "Moderate Buy" with an average price target of $7.13, following varying reports from different financial institutions.
• Institutional investors have increased their holdings in the company, with Caitong International increasing its position by 419.2% in the second quarter.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $5.88, but opened at $6.03. Silvercorp Metals shares last traded at $5.93, with a volume of 808,567 shares changing hands.

Analysts Set New Price Targets

SVM has been the topic of several analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Silvercorp Metals in a report on Thursday, August 7th. Cantor Fitzgerald set a $7.50 price target on shares of Silvercorp Metals and gave the company an "overweight" rating in a report on Monday. Zacks Research downgraded shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Finally, Roth Capital reaffirmed a "buy" rating and set a $6.75 price target (up previously from $6.25) on shares of Silvercorp Metals in a report on Tuesday, July 1st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $7.13.

Silvercorp Metals Stock Performance

The stock has a market cap of $1.29 billion, a P/E ratio of 22.65 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.61 and a quick ratio of 4.50. The firm's 50-day moving average price is $4.82 and its 200-day moving average price is $4.28.

Institutional Investors Weigh In On Silvercorp Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its position in Silvercorp Metals by 419.2% in 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 during the last quarter. PNC Financial Services Group Inc. bought a new stake in Silvercorp Metals in the first quarter worth $39,000. Welch Group LLC bought a new stake in Silvercorp Metals in the first quarter worth $44,000. Baader Bank Aktiengesellschaft bought a new stake in Silvercorp Metals in the first quarter worth $46,000. Finally, Ballentine Partners LLC bought a new stake in Silvercorp Metals in the second quarter worth $50,000. Institutional investors 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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