Channing Global Advisors LLC bought a new position in Silvercorp Metals Inc. (NYSEAMERICAN:SVM – Free Report) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 98,720 shares of the company’s stock, valued at approximately $1,060,000. Silvercorp Metals makes up 0.6% of Channing Global Advisors LLC’s investment portfolio, making the stock its 28th largest holding.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Silvercorp Metals by 31.6% in the 1st quarter. Royal Bank of Canada now owns 444,453 shares of the company’s stock worth $1,720,000 after acquiring an additional 106,813 shares during the period. NewEdge Advisors LLC bought a new stake in Silvercorp Metals in the 1st quarter valued at about $97,000. Goldman Sachs Group Inc. boosted its stake in Silvercorp Metals by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company’s stock valued at $3,273,000 after purchasing an additional 28,803 shares during the period. Jane Street Group LLC boosted its stake in Silvercorp Metals by 91.4% during the 1st quarter. Jane Street Group LLC now owns 102,296 shares of the company’s stock valued at $396,000 after purchasing an additional 48,854 shares during the period. Finally, Geode Capital Management LLC grew its position in Silvercorp Metals by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 123,058 shares of the company’s stock worth $519,000 after purchasing an additional 6,637 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have commented on SVM shares. Jefferies Financial Group upgraded shares of Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. Zacks Research upgraded Silvercorp Metals from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 19th. Finally, Roth Capital decreased their price objective on Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $10.50.
Silvercorp Metals Stock Up 5.3%
SVM stock opened at $9.59 on Friday. The firm’s 50-day moving average is $11.78 and its two-hundred day moving average is $11.25. The company has a current ratio of 3.58, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -239.69 and a beta of 1.13. Silvercorp Metals Inc. has a 52 week low of $4.26 and a 52 week high of $15.77.
Silvercorp Metals Dividend Announcement
The company also recently announced a dividend, which was paid on Thursday, June 25th. Shareholders of record on Friday, June 5th were given a $0.0125 dividend. This represents a yield of 23.0%. The ex-dividend date was Friday, June 5th. Silvercorp Metals’s dividend payout ratio is 8.33%.
Silvercorp Metals 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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