Silvercorp Metals Inc (SVM) Sees Large Growth in Short Interest
Silvercorp Metals Inc (NYSEAMERICAN:SVM) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 109,183 shares, an increase of 65.8% from the February 28th total of 65,854 shares. Based on an average daily volume of 336,264 shares, the short-interest ratio is presently 0.3 days.
SVM opened at $2.74 on Thursday. Silvercorp Metals has a one year low of $1.83 and a one year high of $3.12.
Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings data on Thursday, February 14th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $42.35 million during the quarter, compared to analyst estimates of $43.60 million.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Silvercorp Metals in the fourth quarter valued at approximately $5,944,000. Morgan Stanley lifted its stake in Silvercorp Metals by 27.8% during the third quarter. Morgan Stanley now owns 2,126,827 shares of the company’s stock worth $5,252,000 after purchasing an additional 463,157 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Silvercorp Metals by 6.7% during the third quarter. Renaissance Technologies LLC now owns 1,892,600 shares of the company’s stock worth $4,675,000 after purchasing an additional 118,958 shares in the last quarter. Credit Suisse AG lifted its stake in Silvercorp Metals by 11.2% during the third quarter. Credit Suisse AG now owns 1,244,118 shares of the company’s stock worth $3,072,000 after purchasing an additional 125,392 shares in the last quarter. Finally, U S Global Investors Inc lifted its stake in Silvercorp Metals by 23.2% during the third quarter. U S Global Investors Inc now owns 818,910 shares of the company’s stock worth $2,021,000 after purchasing an additional 154,310 shares in the last quarter.
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Silvercorp Metals Company Profile
Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. Its flagship project is the Ying silver-lead-zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd.
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