Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up - Time to Buy?

Key Points

• Silvercorp Metals shares gapped up before Tuesday’s trading, opening at $9.84 after closing at $9.22, though the stock later traded around $9.51.
• Analysts remain generally positive on the stock, with recent upgrades from Jefferies and Zacks; the consensus rating is Buy with an average price target of $10.50.
• The company recently paid a dividend of $0.0125 per share and reported a 23.0% dividend yield, while institutional ownership remains significant at 22.3%.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.22, but opened at $9.84. Silvercorp Metals shares last traded at $9.5130, with a volume of 416,605 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SVM shares. Jefferies Financial Group upgraded shares of Silvercorp Metals to a "buy" rating in a report on Monday, June 15th. Zacks Research raised shares of Silvercorp Metals from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 19th. Finally, Roth Capital lowered their price objective on shares of Silvercorp Metals from $14.00 to $13.50 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, Silvercorp Metals has a consensus rating of "Buy" and an average price target of $10.50.

Silvercorp Metals Stock Performance

The stock has a market capitalization of $2.06 billion, a PE ratio of -233.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 3.58. The firm has a 50 day moving average of $11.69 and a 200-day moving average of $11.26.

Silvercorp Metals Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Silvercorp Metals by 31.6% in the 1st quarter. Royal Bank of Canada now owns 444,453 shares of the company's stock worth $1,720,000 after buying an additional 106,813 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Silvercorp Metals during the 1st quarter valued at $97,000. Goldman Sachs Group Inc. grew its holdings in shares of Silvercorp Metals by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company's stock valued at $3,273,000 after acquiring an additional 28,803 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Silvercorp Metals by 91.4% during the 1st quarter. Jane Street Group LLC now owns 102,296 shares of the company's stock valued at $396,000 after acquiring an additional 48,854 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Silvercorp Metals by 5.7% in the second quarter. Geode Capital Management LLC now owns 123,058 shares of the company's stock worth $519,000 after acquiring an additional 6,637 shares during the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.

About Silvercorp Metals

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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