Silvercorp Metals (NYSEAMERICAN:SVM) Trading Down 8.1% - Here's Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s share price traded down 8.1% during mid-day trading on Wednesday . The stock traded as low as $4.66 and last traded at $4.65. 2,044,665 shares traded hands during trading, a decline of 66% from the average session volume of 6,075,034 shares. The stock had previously closed at $5.06.

Wall Street Analyst Weigh In

Separately, Roth Capital restated a "buy" rating and issued a $6.75 price objective (up previously from $6.25) on shares of Silvercorp Metals in a research note on Tuesday, July 1st.

Silvercorp Metals Price Performance

The business has a fifty day moving average of $4.23 and a 200-day moving average of $3.69. The firm has a market cap of $967.92 million, a PE ratio of 14.80 and a beta of 1.01. The company has a current ratio of 5.05, a quick ratio of 4.95 and a debt-to-equity ratio of 0.13.

Silvercorp Metals Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Thursday, June 26th. Shareholders of record on Friday, June 6th were issued a $0.0125 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a dividend yield of 0.6%. Silvercorp Metals's payout ratio is currently 8.33%.

Hedge Funds Weigh In On Silvercorp Metals

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in Silvercorp Metals by 3.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,683 shares of the company's stock worth $329,000 after acquiring an additional 2,581 shares during the last quarter. Ballentine Partners LLC bought a new position in Silvercorp Metals during the 2nd quarter worth approximately $50,000. Goldman Sachs Group Inc. grew its position in Silvercorp Metals by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company's stock worth $3,273,000 after acquiring an additional 28,803 shares during the last quarter. Jane Street Group LLC grew its position in Silvercorp Metals by 91.4% during the 1st quarter. Jane Street Group LLC now owns 102,296 shares of the company's stock worth $396,000 after acquiring an additional 48,854 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in Silvercorp Metals during the 1st quarter worth approximately $97,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

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.