Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – Time to Sell?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $10.51, but opened at $9.96. Silvercorp Metals shares last traded at $10.0430, with a volume of 404,965 shares changing hands.

Analyst Upgrades and Downgrades

SVM has been the subject of a number of research analyst reports. Roth Capital restated a “buy” rating and set a $14.00 price objective (up from $13.50) on shares of Silvercorp Metals in a report on Wednesday, August 12th. Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. Finally, Zacks Research cut Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Silvercorp Metals Price Performance

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 company’s 50 day moving average is $11.66 and its 200 day moving average is $11.41. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 83.97 and a beta of 1.19.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its earnings results on Monday, August 10th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The firm had revenue of $138.67 million for the quarter, compared to analyst estimates of $138.70 million. During the same quarter in the prior year, the business posted $0.08 EPS. On average, equities research analysts anticipate that Silvercorp Metals Inc. will post 0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silvercorp Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. U S Global Investors Inc. increased its holdings in Silvercorp Metals by 147.1% in the 1st quarter. U S Global Investors Inc. now owns 617,663 shares of the company’s stock valued at $6,634,000 after buying an additional 367,663 shares during the period. Spark Investment Management LLC bought a new stake in shares of Silvercorp Metals during the 2nd quarter worth approximately $829,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Silvercorp Metals during the 2nd quarter worth approximately $1,272,000. PDT Partners LLC bought a new stake in shares of Silvercorp Metals during the 2nd quarter worth approximately $6,661,000. Finally, Renaissance Technologies LLC boosted its position in shares of Silvercorp Metals by 14.1% during the 1st quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock worth $30,205,000 after acquiring an additional 348,000 shares in the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, development, and operation of precious- and base-metal properties. The company primarily produces silver, lead, and zinc, with revenue generated from the sale of concentrates produced at its mines.

Silvercorp’s principal operating assets are located in China, including the Ying Mining District in Henan Province and the GC Mine in Guangdong Province. Its activities include underground mining, mineral processing, exploration, and project development.