Silvercorp Metals (NYSEAMERICAN:SVM) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Silvercorp Metals from “strong-buy” to “hold”, even as other analysts remain more positive on the stock.
• Silvercorp’s shares were up 7.0% and opened at $9.53; the company has a market cap of about $2.11 billion and a 52-week range of $4.26 to $15.77.
• Analyst sentiment is still mixed-to-bullish overall: six analysts rate it a Buy, one says Hold, and MarketBeat shows an average rating of “Moderate Buy” with a $10.50 price target.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

SVM has been the topic of several other reports. Jefferies Financial Group upgraded shares of Silvercorp Metals to a "buy" rating in a report on Monday, June 15th. Roth Capital dropped their price objective on Silvercorp Metals from $14.00 to $13.50 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $10.50.

Silvercorp Metals Trading Up 7.0%

Shares of Silvercorp Metals stock opened at $9.53 on Monday. The stock has a market capitalization of $2.11 billion, a PE ratio of -238.19 and a beta of 1.13. Silvercorp Metals has a 52 week low of $4.26 and a 52 week high of $15.77. The stock has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $11.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 3.58.

Hedge Funds Weigh In On Silvercorp Metals

A number of institutional investors have recently bought and sold shares of SVM. Royal Bank of Canada boosted its position in Silvercorp Metals by 31.6% during the 1st quarter. Royal Bank of Canada now owns 444,453 shares of the company's stock valued at $1,720,000 after acquiring an additional 106,813 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Silvercorp Metals in the 1st quarter worth approximately $97,000. Goldman Sachs Group Inc. lifted its position in Silvercorp Metals by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company's stock valued at $3,273,000 after buying an additional 28,803 shares during the period. Jane Street Group LLC lifted 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 valued at $396,000 after acquiring an additional 48,854 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in 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 in the last quarter. 22.30% of the stock is owned by 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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