Silvercorp Metals Inc. $SVM Shares Newly Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC purchased a new position in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 118,139 shares of the company’s stock, valued at approximately $1,261,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SVM. Van ECK Associates Corp raised its holdings in shares of Silvercorp Metals by 125.6% during the second quarter. Van ECK Associates Corp now owns 15,941,612 shares of the company’s stock valued at $161,025,000 after acquiring an additional 8,875,001 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Silvercorp Metals in the second quarter worth approximately $42,564,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Silvercorp Metals during the second quarter worth approximately $39,719,000. 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 worth $30,205,000 after purchasing an additional 348,000 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Silvercorp Metals during the second quarter worth approximately $19,180,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

Silvercorp Metals Stock Up 9.3%

SVM stock opened at $9.73 on Tuesday. The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $10.44 and a two-hundred day moving average of $11.18. Silvercorp Metals Inc. has a 12 month low of $6.11 and a 12 month high of $15.77. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 51.21 and a beta of 1.23.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its earnings results on Thursday, November 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $72.10 million. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%. As a group, analysts forecast that Silvercorp Metals Inc. will post 0.63 earnings per share for the current fiscal year.

Silvercorp Metals Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 27th will be given a dividend of $0.0125 per share. The ex-dividend date is Friday, November 27th. This represents a yield of 29.0%. Silvercorp Metals’s dividend payout ratio (DPR) is presently 8.33%.

Silvercorp Metals declared that its board has authorized a share buyback program on Thursday, September 17th that authorizes the company to buy back 8,850,000 outstanding shares. This buyback authorization authorizes the company to repurchase up to 4% of its shares through open market purchases. Share buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

SVM has been the subject of several recent research reports. Roth Capital reissued a “buy” rating and issued a $14.00 price objective (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. National Bank Financial initiated coverage on shares of Silvercorp Metals in a research note on Thursday, October 8th. They set a “hold” rating on the stock. Finally, Zacks Research lowered shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian mining company focused on the production and exploration of silver, lead, zinc and gold. Its operating mines are in China, including properties in the Ying Mining District in Henan Province and the GC mine.

The company also has mineral development and exploration interests in Ecuador, including the El Domo copper-gold project and the Condor gold project. Its portfolio spans operating mines and projects at earlier stages of development.

Silvercorp is headquartered in Vancouver, British Columbia.