Silvercorp Metals (TSE:SVM) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Silvercorp Metals (TSE:SVM) has reached a new 52-week high of C$10.92 following an upgrade from BMO Capital Markets, which raised its price target from C$10.00 to C$12.00.
• Other analysts, including Cormark and Canaccord Genuity, have provided positive ratings and price target adjustments, with a consensus target price of C$12.50.
• Insider Derek Zhihua Liu sold 40,000 shares at C$6.69 each, reducing his ownership by 23.25%, which highlights some insider activity amidst the stock's upward movement.

Silvercorp Metals Inc. (TSE:SVM - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from C$10.00 to C$12.00. The stock traded as high as C$10.92 and last traded at C$10.43, with a volume of 1528349 shares traded. The stock had previously closed at C$10.09.

Several other analysts have also weighed in on the stock. Cormark upgraded shares of Silvercorp Metals to a "moderate buy" rating in a research note on Thursday, September 25th. Canaccord Genuity Group upped their target price on Silvercorp Metals from C$9.50 to C$13.00 in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$12.50.

Insider Activity

In related news, insider Derek Zhihua Liu sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of C$6.69, for a total transaction of C$267,664.00. Following the completion of the sale, the insider directly owned 132,010 shares in the company, valued at approximately C$883,358.12. This trade represents a 23.25% decrease in their ownership of the stock. 3.67% of the stock is owned by company insiders.

Silvercorp Metals Price Performance

The company has a market capitalization of C$2.28 billion, a PE ratio of 43.10, a P/E/G ratio of 0.03 and a beta of 1.69. The stock has a 50 day moving average price of C$7.56 and a two-hundred day moving average price of C$6.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 3.04.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a mineral mining company. It acquires, explores, develops, and mines precious and base metal mineral properties at its producing mines and exploration and development projects in China. The group produces silver, gold, lead, and zinc.

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