Silvercorp Metals (NYSEAMERICAN:SVM) Cut to “Hold” at Zacks Research

Silvercorp Metals (NYSEAMERICAN:SVM) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

SVM has been the subject of several other reports. Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. Roth Capital lowered their price target on Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating for the company in a report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Silvercorp Metals Stock Up 7.0%

Shares of SVM stock opened at $9.53 on Monday. The company’s fifty day moving average price is $11.15 and its 200-day moving average price is $11.28. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -238.19 and a beta of 1.13. Silvercorp Metals has a one year low of $4.26 and a one year high of $15.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.58 and a quick ratio of 3.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SVM. JPMorgan Chase & Co. boosted its holdings in shares of Silvercorp Metals by 1,253.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 943,902 shares of the company’s stock valued at $5,965,000 after acquiring an additional 874,170 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Silvercorp Metals during the fourth quarter worth $35,248,000. Tudor Investment Corp ET AL acquired a new position in Silvercorp Metals during the third quarter valued at $8,547,000. LOM Asset Management Ltd acquired a new position in Silvercorp Metals during the fourth quarter valued at $1,309,000. Finally, Pictet Asset Management Holding SA raised its stake in shares of Silvercorp Metals by 349.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 146,793 shares of the company’s stock valued at $1,229,000 after buying an additional 114,128 shares during the last quarter. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

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.