Silvercorp Metals (NYSEAMERICAN:SVM) Stock Price Down 6.2% – Time to Sell?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price dropped 6.2% on Wednesday . The company traded as low as $10.10 and last traded at $10.17. Approximately 1,111,332 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 6,428,746 shares. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

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

Silvercorp Metals Price Performance

The firm has a fifty day moving average of $11.37 and a 200 day moving average of $8.47. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -145.48 and a beta of 0.92.

Hedge Funds Weigh In On Silvercorp Metals

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Silvercorp Metals by 163.4% during the third quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock worth $40,000 after buying an additional 3,929 shares in the last quarter. Employees Retirement System of Texas purchased a new position in Silvercorp Metals in the fourth quarter worth approximately $61,000. TD Waterhouse Canada Inc. increased its position in shares of Silvercorp Metals by 22.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock worth $62,000 after purchasing an additional 1,374 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Silvercorp Metals during the 3rd quarter worth approximately $57,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Silvercorp Metals in the fourth quarter valued at $82,000. Institutional investors and hedge funds own 22.30% of the company’s stock.

Silvercorp Metals Company 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.