Cibc World Market Inc. bought a new stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 258,792 shares of the company’s stock, valued at approximately $2,618,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its holdings in Silvercorp Metals by 238.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock worth $77,244,000 after acquiring an additional 6,511,389 shares during the period. BlackRock Inc. bought a new position in Silvercorp Metals in the 2nd quarter valued at $42,564,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Silvercorp Metals in the 2nd quarter valued at $39,719,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Silvercorp Metals by 38.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock valued at $57,665,000 after purchasing an additional 2,534,155 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Silvercorp Metals by 24.2% during the 3rd quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock valued at $69,306,000 after purchasing an additional 2,138,301 shares during the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.
Silvercorp Metals Stock Performance
Shares of SVM stock opened at $13.07 on Thursday. The firm’s 50 day moving average is $10.59 and its 200 day moving average is $11.39. The stock has a market capitalization of $2.89 billion, a P/E ratio of 108.93 and a beta of 1.15. Silvercorp Metals Inc. has a 12 month low of $4.50 and a 12 month high of $15.77. The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Zacks Research cut Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Roth Capital restated a “buy” rating and set a $14.00 price target (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group upgraded shares of Silvercorp Metals to a “buy” rating in a report on Monday, June 15th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.
Read Our Latest Stock Report on SVM
About Silvercorp Metals
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.
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