JPMorgan Chase & Co. Has $5.97 Million Position in Silvercorp Metals Inc. $SVM

JPMorgan Chase & Co. grew its holdings in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 1,253.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 943,902 shares of the company’s stock after purchasing an additional 874,170 shares during the period. JPMorgan Chase & Co.’s holdings in Silvercorp Metals were worth $5,965,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Silvercorp Metals by 38.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock valued at $57,665,000 after buying an additional 2,534,155 shares during the last quarter. Tidal Investments LLC increased its holdings in Silvercorp Metals by 24.2% during the third quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after buying an additional 2,138,301 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Silvercorp Metals during the third quarter worth $8,962,000. Tudor Investment Corp ET AL bought a new stake in Silvercorp Metals during the third quarter worth $8,547,000. Finally, Alps Advisors Inc. raised its position in Silvercorp Metals by 111.9% during the third quarter. Alps Advisors Inc. now owns 2,552,762 shares of the company’s stock worth $16,133,000 after acquiring an additional 1,347,819 shares in the last quarter. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, January 16th. Roth Mkm set a $11.00 price target on Silvercorp Metals in a report on Tuesday, February 10th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

Silvercorp Metals Stock Performance

Shares of SVM stock opened at $10.74 on Wednesday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -153.41 and a beta of 0.92. The company has a 50-day simple moving average of $11.31 and a 200 day simple moving average of $8.81. Silvercorp Metals Inc. has a 52 week low of $3.15 and a 52 week high of $14.00.

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.