Silvercorp Metals (NYSEAMERICAN:SVM) Upgraded to Moderate Buy at Cormark

Key Points

• Silvercorp Metals has been upgraded to a "moderate buy" rating by Cormark, reflecting positive analyst sentiment towards the stock.
• The current consensus rating on Silvercorp Metals is "Moderate Buy," with an average target price set at $7.13.
• Recent institutional investor activity indicates strong interest, with firms like Citigroup and MIRAE ASSET GLOBAL ETFS HOLDINGS significantly increasing their stakes in the company.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) was upgraded by Cormark to a "moderate buy" rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities analysts have also issued reports on SVM. Roth Capital restated a "buy" rating and set a $6.75 target price (up from $6.25) on shares of Silvercorp Metals in a research report on Tuesday, July 1st. Raymond James Financial restated an "outperform" rating on shares of Silvercorp Metals in a research report on Thursday, August 7th. Cantor Fitzgerald set a $7.50 target price on shares of Silvercorp Metals and gave the stock an "overweight" rating in a research report on Monday. Finally, Zacks Research lowered shares of Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.13.

Silvercorp Metals Stock Performance

Shares of SVM opened at $6.08 on Thursday. 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 $1.33 billion, a PE ratio of 23.39 and a beta of 0.85. The company's 50 day simple moving average is $4.88 and its 200-day simple moving average is $4.31. Silvercorp Metals has a 12-month low of $2.87 and a 12-month high of $6.46.

Institutional Investors Weigh In On Silvercorp Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Silvercorp Metals by 20.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,604,203 shares of the company's stock valued at $27,927,000 after acquiring an additional 1,105,820 shares during the period. Citigroup Inc. raised its stake in shares of Silvercorp Metals by 8,416.5% during the 1st quarter. Citigroup Inc. now owns 3,573,536 shares of the company's stock worth $13,780,000 after buying an additional 3,531,576 shares during the last quarter. Sprott Inc. raised its stake in shares of Silvercorp Metals by 39.1% during the 1st quarter. Sprott Inc. now owns 1,354,657 shares of the company's stock worth $5,230,000 after buying an additional 380,946 shares during the last quarter. U S Global Investors Inc. raised its stake in shares of 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 worth $5,092,000 after buying an additional 886,666 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 buying an additional 28,803 shares during the last quarter. Institutional investors and hedge funds own 22.30% of the company's stock.

Silvercorp Metals Company Profile

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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