Silvercorp Metals (NYSEAMERICAN:SVM) Stock Price Down 8.7% - Here's Why

Key Points

• Down 8.7% intraday to $10.80 (low $10.79) on Monday, with ~1.27M shares traded—about an 81% decline versus its average daily volume of 6.68M; the stock had closed at $11.83 previously.
• Analysts maintain a consensus rating of Moderate Buy (four Buys, two Holds), but the average price target of $9.25 is below the current share price.
• Silvercorp is a Canadian-based precious metals producer operating silver–lead–zinc mines in Henan and Guangxi, China, with a $2.46B market cap and a negative P/E (-159.41), reflecting recent losses.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) was down 8.7% during mid-day trading on Monday . The company traded as low as $10.79 and last traded at $10.80. Approximately 1,269,799 shares were traded during trading, a decline of 81% from the average daily volume of 6,675,298 shares. The stock had previously closed at $11.83.

Analyst Ratings Changes

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

Silvercorp Metals Price Performance

The company has a market capitalization of $2.46 billion, a P/E ratio of -159.41 and a beta of 0.92. The firm has a fifty day moving average price of $10.97 and a 200-day moving average price of $8.14.

Institutional Trading of Silvercorp Metals

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in shares of Silvercorp Metals by 163.4% during the 3rd 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 in the last quarter. Banque Cantonale Vaudoise bought a new stake in Silvercorp Metals during the third quarter valued at $57,000. Employees Retirement System of Texas purchased a new position in Silvercorp Metals during the fourth quarter worth about $61,000. TD Waterhouse Canada Inc. increased its stake in Silvercorp Metals by 22.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company's stock worth $62,000 after acquiring an additional 1,374 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in Silvercorp Metals in the 3rd quarter worth about $67,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

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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