Silvercorp Metals Inc (NYSE:SVM) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 196,438 shares, a decline of 24.0% from the August 15th total of 258,341 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 270,766 shares, the days-to-cover ratio is currently 0.7 days.
Silvercorp Metals (SVM) opened at 3.24 on Wednesday. Silvercorp Metals has a 52 week low of $2.07 and a 52 week high of $4.50. The stock has a market cap of $543.97 million and a P/E ratio of 11.57. The company has a 50-day moving average of $2.90 and a 200-day moving average of $2.94.
A number of research analysts recently issued reports on SVM shares. Roth Capital started coverage on shares of Silvercorp Metals in a research note on Tuesday, August 29th. They issued a “buy” rating and a $3.50 price target for the company. TheStreet downgraded shares of Silvercorp Metals from a “b-” rating to a “c” rating in a research note on Tuesday, August 22nd.
A number of large investors have recently modified their holdings of SVM. Russell Investments Group Ltd. acquired a new stake in Silvercorp Metals in the second quarter valued at approximately $255,000. Acadian Asset Management LLC acquired a new stake in Silvercorp Metals in the second quarter valued at approximately $3,849,000. Spark Investment Management LLC acquired a new stake in Silvercorp Metals in the second quarter valued at approximately $4,072,000. First Manhattan Co. acquired a new stake in Silvercorp Metals in the second quarter valued at approximately $197,000. Finally, ARP Americas LLC acquired a new stake in Silvercorp Metals in the second quarter valued at approximately $147,000.
Silvercorp Metals Company Profile
Silvercorp Metals Inc (Silvercorp) is a silver-producing Canadian mining company. The Company is engaged in the acquisition, exploration, development, and mining of silver-related mineral properties in China. The Company’s segments include Mining, including projects, such as Henan Luoning, Hunan, Guangdong and Other, and Administrative, which includes Beijing and Vancouver.
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