Silvercorp Metals (NYSEAMERICAN:SVM) Shares Up 6.6% – Should You Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price shot up 6.6% on Wednesday . The stock traded as high as $12.79 and last traded at $12.68. Approximately 255,749 shares were traded during trading, a decline of 94% from the average daily volume of 4,461,439 shares. The stock had previously closed at $11.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded 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 price target (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group upgraded shares of Silvercorp Metals to a “buy” rating in a research note 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 currently has an average rating of “Moderate Buy” and an average price target of $10.75.

Silvercorp Metals Price Performance

The company has a fifty day simple moving average of $10.81 and a two-hundred day simple moving average of $11.47. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 109.26 and a beta of 1.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.46 and a current ratio of 3.51.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $138.67 million for the quarter, compared to analysts’ expectations of $138.70 million. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.During the same quarter last year, the business earned $0.08 earnings per share. As a group, equities research analysts expect that Silvercorp Metals Inc. will post 0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silvercorp Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Silvercorp Metals by 31.6% during 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 in the last quarter. NewEdge Advisors LLC acquired a new position in Silvercorp Metals during the first quarter valued at approximately $97,000. Goldman Sachs Group Inc. raised its position in Silvercorp Metals by 3.5% during the first 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 in the last quarter. Jane Street Group LLC lifted its stake in Silvercorp Metals by 91.4% during the first quarter. Jane Street Group LLC now owns 102,296 shares of the company’s stock worth $396,000 after purchasing an additional 48,854 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Silvercorp Metals by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 123,058 shares of the company’s stock valued at $519,000 after purchasing an additional 6,637 shares in the last quarter. 22.30% of the stock is currently owned by institutional investors and hedge funds.

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.