Silvercorp Metals (NYSEAMERICAN:SVM) Stock Price Down 8.4% - Should You Sell?

Key Points

• Silvercorp Metals Inc. experienced a significant drop in stock price, down 8.4%, closing at $6.85, with trading volume declining by 54% compared to the average session.
• Despite the recent share price decline, analysts maintain a generally positive outlook with a consensus target price of $7.88 and a majority rating as "Moderate Buy."
• Institutional investors have greatly increased their positions in Silvercorp Metals, with Citigroup growing its holdings by 8,416.5% in the first quarter of the year.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report)'s share price traded down 8.4% on Friday . The stock traded as low as $6.85 and last traded at $6.85. 2,749,886 shares changed hands during trading, a decline of 54% from the average session volume of 6,022,925 shares. The stock had previously closed at $7.47.

Wall Street Analysts Forecast Growth

SVM has been the topic of a number of analyst reports. Zacks Research cut shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Roth Capital set a $8.25 target price on shares of Silvercorp Metals and gave the company a "buy" rating in a research note on Friday, October 3rd. Raymond James Financial restated an "outperform" rating on shares of Silvercorp Metals in a research note on Friday, October 10th. Cormark upgraded shares of Silvercorp Metals to a "moderate buy" rating in a research note on Thursday, September 25th. Finally, Cantor Fitzgerald set a $7.50 target price on shares of Silvercorp Metals and gave the company an "overweight" rating in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $7.88.

Silvercorp Metals Stock Performance

The firm's 50 day simple moving average is $5.51 and its 200 day simple moving average is $4.59. The company has a current ratio of 4.61, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.49 billion, a PE ratio of 26.29 and a beta of 0.86.

Institutional Trading of Silvercorp Metals

Large investors have recently made changes to their positions in the business. Citigroup Inc. grew its holdings in Silvercorp Metals by 8,416.5% during the 1st quarter. Citigroup Inc. now owns 3,573,536 shares of the company's stock valued at $13,780,000 after purchasing an additional 3,531,576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Silvercorp Metals by 20.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,604,203 shares of the company's stock valued at $27,927,000 after purchasing an additional 1,105,820 shares during the last quarter. U S Global Investors Inc. grew its holdings in Silvercorp Metals by 277.1% during the 2nd quarter. U S Global Investors Inc. now owns 1,206,666 shares of the company's stock valued at $5,092,000 after purchasing an additional 886,666 shares during the last quarter. Alps Advisors Inc. grew its holdings in Silvercorp Metals by 536.0% during the 1st quarter. Alps Advisors Inc. now owns 627,376 shares of the company's stock valued at $2,428,000 after purchasing an additional 528,736 shares during the last quarter. Finally, Man Group plc grew its holdings in Silvercorp Metals by 1,626.7% during the 2nd quarter. Man Group plc now owns 505,000 shares of the company's stock valued at $2,131,000 after purchasing an additional 475,753 shares during the last quarter. 22.30% of the stock is currently owned by 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.

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