Silvercorp Metals (NYSEAMERICAN:SVM) Trading Down 6.7% – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares were down 6.7% during trading on Monday . The stock traded as low as $8.21 and last traded at $8.3050. Approximately 5,714,312 shares changed hands during trading, a decline of 4% from the average daily volume of 5,944,983 shares. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SVM shares. Cormark upgraded Silvercorp Metals to a “moderate buy” rating in a research note on Thursday, September 25th. Raymond James Financial reiterated an “outperform” rating on shares of Silvercorp Metals in a research note on Friday, October 10th. Roth Capital increased their price objective on shares of Silvercorp Metals to $9.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Cantor Fitzgerald set a $7.50 price objective on shares of Silvercorp Metals and gave the company an “overweight” rating in a report on Monday, September 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.25.

Silvercorp Metals Stock Performance

The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 69.51 and a beta of 1.00. The company has a quick ratio of 4.50, a current ratio of 4.59 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $7.37 and a 200 day moving average of $5.93.

Silvercorp Metals Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.0125 dividend. This represents a dividend yield of 32.0%. The ex-dividend date of this dividend was Friday, November 28th. Silvercorp Metals’s dividend payout ratio is presently 8.33%.

Institutional Trading of Silvercorp Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in SVM. Caitong International Asset Management Co. Ltd boosted its stake in Silvercorp Metals by 419.2% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company’s stock valued at $31,000 after acquiring an additional 5,839 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Silvercorp Metals by 163.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock valued at $40,000 after purchasing an additional 3,929 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Silvercorp Metals in the 2nd quarter valued at about $50,000. Banque Cantonale Vaudoise bought a new position in shares of Silvercorp Metals during the third quarter worth about $57,000. Finally, SeaCrest Wealth Management LLC acquired a new position in Silvercorp Metals in the third quarter worth about $67,000. Institutional investors own 22.30% of the company’s stock.

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.