Silvercorp Metals (NYSEAMERICAN:SVM) Trading Down 6.4% – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVMGet Free Report) dropped 6.4% on Tuesday . The stock traded as low as $10.04 and last traded at $10.2250. Approximately 982,035 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 5,098,264 shares. The stock had previously closed at $10.92.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SVM. Roth Mkm reiterated a “buy” rating and issued a $14.00 price objective on shares of Silvercorp Metals in a research report on Thursday. Zacks Research upgraded Silvercorp Metals from a “hold” rating to a “strong-buy” rating in a report on Friday, June 19th. Finally, Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.75.

Read Our Latest Analysis on Silvercorp Metals

Silvercorp Metals Stock Performance

The company has a 50-day simple moving average of $12.18 and a two-hundred day simple moving average of $11.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 3.58. The firm has a market capitalization of $2.27 billion, a P/E ratio of -257.66 and a beta of 1.08.

Silvercorp Metals Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, June 25th. Investors of record on Friday, June 5th were paid a $0.0125 dividend. This represents a yield of 23.0%. The ex-dividend date of this dividend was Friday, June 5th. Silvercorp Metals’s dividend payout ratio is presently 8.33%.

Hedge Funds Weigh In On Silvercorp Metals

Institutional investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in shares of Silvercorp Metals during the 1st quarter valued at $64,000. EverSource Wealth Advisors LLC grew its position in shares of Silvercorp Metals by 163.4% in 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 period. Banque Cantonale Vaudoise bought a new position in shares of Silvercorp Metals in the 1st quarter worth about $69,000. Employees Retirement System of Texas bought a new position in shares of Silvercorp Metals in the 4th quarter worth about $61,000. Finally, Leonteq Securities AG purchased a new position in Silvercorp Metals during the 1st quarter valued at about $79,000. Institutional investors own 22.30% of the company’s stock.

Silvercorp Metals Company Profile

(Get Free Report)

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.

Further Reading

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