Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $11.31, but opened at $12.08. Silvercorp Metals shares last traded at $12.0080, with a volume of 2,519,979 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets restated an “outperform” rating on shares of Silvercorp Metals in a research note on Friday, January 16th. Cormark upgraded Silvercorp Metals to a “moderate buy” rating in a report on Thursday, September 25th. Raymond James Financial reaffirmed an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Finally, Roth Mkm set a $11.50 price objective on Silvercorp Metals in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Silvercorp Metals Stock Performance

The firm has a market cap of $2.71 billion, a PE ratio of 102.34 and a beta of 0.97. The stock has a 50-day moving average price of $8.56 and a 200 day moving average price of $6.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.59 and a quick ratio of 4.50.

Silvercorp Metals Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.0125 dividend. The ex-dividend date was Friday, November 28th. This represents a yield of 32.0%. Silvercorp Metals’s payout ratio is 8.33%.

Institutional Investors Weigh In On Silvercorp Metals

Several hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in Silvercorp Metals by 419.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company’s stock worth $31,000 after purchasing an additional 5,839 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Silvercorp Metals by 163.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock worth $40,000 after buying an additional 3,929 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Silvercorp Metals during the 2nd quarter worth $50,000. Banque Cantonale Vaudoise purchased a new position in shares of Silvercorp Metals in the 3rd quarter worth $57,000. Finally, SeaCrest Wealth Management LLC acquired a new position in Silvercorp Metals in the third quarter valued at $67,000. 22.30% of the stock is owned by institutional investors and hedge funds.

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.