Silvercorp Metals (TSE:SVM) Reaches New 52-Week High - Here's Why

Key Points

• Silvercorp Metals' share price reached a new 52-week high at C$10.27 during mid-day trading, closing at C$10.19 with a trading volume of 835,815 shares.
• Equities research analysts have given the stock a consensus rating of "Buy", with Canaccord Genuity increasing their price target from C$9.50 to C$13.00.
• Insider transactions have seen significant sales, with Director Rui Feng and insider Derek Zhihua Liu selling a combined 70,000 shares, indicating a 23.25% decrease in their positions.

Silvercorp Metals Inc. (TSE:SVM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$10.27 and last traded at C$10.19, with a volume of 835815 shares. The stock had previously closed at C$9.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cormark raised shares of Silvercorp Metals to a "moderate buy" rating in a research note on Thursday, September 25th. Canaccord Genuity Group lifted their price target on shares of Silvercorp Metals from C$9.50 to C$13.00 in a research note on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$10.25.

Silvercorp Metals Price Performance

The company's 50-day moving average price is C$7.13 and its two-hundred day moving average price is C$6.14. The company has a market cap of C$2.23 billion, a P/E ratio of 42.23, a P/E/G ratio of 0.03 and a beta of 1.69. The company has a current ratio of 3.04, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18.

Insider Transactions at Silvercorp Metals

In related news, Director Rui Feng sold 30,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of C$6.50, for a total transaction of C$195,120.00. Also, insider Derek Zhihua Liu sold 40,000 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 132,010 shares of the company's stock, valued at approximately C$883,358.12. This represents a 23.25% decrease in their position. 3.67% of the stock is owned by corporate insiders.

About Silvercorp Metals

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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