The Manufacturers Life Insurance Company purchased a new stake in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 197,674 shares of the company’s stock, valued at approximately $1,998,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SVM. U S Global Investors Inc. boosted its stake in shares of Silvercorp Metals by 147.1% in the 1st quarter. U S Global Investors Inc. now owns 617,663 shares of the company’s stock worth $6,634,000 after buying an additional 367,663 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Silvercorp Metals by 14.1% during the first quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock valued at $30,205,000 after acquiring an additional 348,000 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Silvercorp Metals by 349.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 146,793 shares of the company’s stock worth $1,229,000 after acquiring an additional 114,128 shares during the period. CIBC Asset Management Inc bought a new stake in Silvercorp Metals during the fourth quarter worth $1,687,000. Finally, Auxano Advisors LLC purchased a new position in Silvercorp Metals in the fourth quarter worth $2,335,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.
Silvercorp Metals Trading Up 7.4%
Shares of SVM stock opened at $12.78 on Thursday. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.83 billion, a P/E ratio of 106.51 and a beta of 1.22. The company has a 50 day moving average of $10.76 and a 200-day moving average of $11.45. Silvercorp Metals Inc. has a 12-month low of $4.81 and a 12-month high of $15.77.
Analyst Ratings Changes
A number of brokerages have issued reports on SVM. Zacks Research downgraded Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. Finally, Roth Capital reissued a “buy” rating and issued a $14.00 price target (up from $13.50) on shares of Silvercorp Metals in a report on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.
View Our Latest Analysis on SVM
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.
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