Silvercorp Metals (NYSEAMERICAN:SVM – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01, Zacks reports. The firm had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $72.10 million. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%.
Silvercorp Metals Stock Up 6.7%
NYSEAMERICAN:SVM traded up $0.56 during mid-day trading on Friday, reaching $8.90. The company’s stock had a trading volume of 2,753,256 shares, compared to its average volume of 2,296,578. Silvercorp Metals has a 1 year low of $5.97 and a 1 year high of $15.77. The stock has a fifty day moving average of $10.50 and a 200-day moving average of $11.19. The firm has a market capitalization of $1.97 billion, a PE ratio of 46.84 and a beta of 1.23. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10.
Silvercorp Metals Announces Dividend
The company also recently disclosed a dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 27th will be issued a $0.0125 dividend. This represents a dividend yield of 29.0%. The ex-dividend date is Friday, November 27th. Silvercorp Metals’s payout ratio is presently 8.33%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Roth Capital restated a “buy” rating and issued a $14.00 target price (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. Finally, National Bank Financial began coverage on shares of Silvercorp Metals in a research report on Thursday, October 8th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.
Check Out Our Latest Stock Report on SVM
Silvercorp Metals announced that its board has authorized a stock repurchase plan on Thursday, September 17th that permits the company to repurchase 8,850,000 shares. This repurchase authorization permits the company to repurchase up to 4% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
About Silvercorp Metals
Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. The company’s production profile is centered on silver, lead and zinc, with its operations and mineral projects located primarily in China and Ecuador.
In China, Silvercorp operates the Ying Mining District in Henan Province, which includes the Ying, HPG and TLP mines. These underground operations produce silver-lead and zinc-lead concentrates for sale to smelters and other customers.
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