Silvercorp Metals (NYSEAMERICAN:SVM) Trading 6% Higher - Here's What Happened

Key Points

• Shares rose 6% on Friday to about $10.27 (intraday high ~$10.21) while trading volume was ~768,927 shares, down roughly 88% from the average daily volume.
• Analysts mostly rate SVM a Moderate Buy (four Buys, two Holds) with an average price target of $9.25, although Roth MKM set a $11 target and several firms have reissued Outperform ratings.
• Silvercorp is a Canada-based silver, lead and zinc producer operating in China, with a market cap of about $2.26 billion and a negative trailing P/E (-146.05), indicating recent losses.

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) shares rose 6% during trading on Friday . The company traded as high as $10.21 and last traded at $10.2720. Approximately 768,927 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 6,457,021 shares. The stock had previously closed at $9.69.

Analyst Ratings Changes

SVM has been the subject of a number of analyst reports. Roth Mkm set a $11.00 price objective on Silvercorp Metals in a research note on Tuesday, February 10th. Raymond James Financial reissued an "outperform" rating on shares of Silvercorp Metals in a research note on Wednesday, January 14th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Silvercorp Metals in a research note on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $9.25.

Silvercorp Metals Price Performance

The firm's 50 day moving average price is $11.39 and its 200-day moving average price is $8.65. The stock has a market cap of $2.26 billion, a P/E ratio of -146.05 and a beta of 0.92.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SVM. EverSource Wealth Advisors LLC boosted its position in shares of Silvercorp Metals by 163.4% during the third quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company's stock valued at $40,000 after buying an additional 3,929 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Silvercorp Metals in the 3rd quarter worth about $57,000. Employees Retirement System of Texas purchased a new position in Silvercorp Metals in the 4th quarter worth about $61,000. TD Waterhouse Canada Inc. lifted its stake in Silvercorp Metals by 22.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company's stock valued at $62,000 after acquiring an additional 1,374 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in Silvercorp Metals during the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 22.30% of the company's stock.

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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