Silvercorp Metals (SVM) Lowered to “Sell” at Zacks Investment Research
Silvercorp Metals (NYSEAMERICAN:SVM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.
According to Zacks, “Silvercorp Metals, Inc. engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in the Peoples Republic of China. It explores for silver, gold, lead, and zinc properties. The company primarily operates and develops four Silver-Lead-Zinc mines at the Ying Mining Camp, Henan Province; and the Na-Bao Polymetalic Project in Qinghai Province, China. The company is growing its resource base through continuous exploration of existing projects as well as acquiring new development and exploration projects in multiple jurisdictions. Silvercorp is listed on the Toronto Stock Exchange and the NYSE under the symbol T.SVM and SVM respectively. “
A number of other equities research analysts have also recently issued reports on SVM. TheStreet cut Silvercorp Metals from a “b-” rating to a “c” rating in a research note on Tuesday, August 22nd. Roth Capital initiated coverage on Silvercorp Metals in a research note on Tuesday, August 29th. They issued a “buy” rating and a $3.50 target price on the stock. Finally, ValuEngine upgraded Silvercorp Metals from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. U S Global Investors Inc. bought a new stake in shares of Silvercorp Metals during the third quarter valued at about $182,000. Jane Street Group LLC raised its stake in shares of Silvercorp Metals by 29.0% during the third quarter. Jane Street Group LLC now owns 252,236 shares of the company’s stock valued at $683,000 after purchasing an additional 56,709 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Silvercorp Metals by 486.8% during the third quarter. JPMorgan Chase & Co. now owns 601,673 shares of the company’s stock valued at $1,977,000 after purchasing an additional 499,133 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Silvercorp Metals by 17.6% during the third quarter. Van ECK Associates Corp now owns 12,345,833 shares of the company’s stock valued at $33,458,000 after purchasing an additional 1,848,842 shares in the last quarter. Finally, Ninepoint Partners LP bought a new stake in shares of Silvercorp Metals during the third quarter valued at about $1,685,000.
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About Silvercorp Metals
Silvercorp Metals Inc (Silvercorp) is a silver-producing Canadian mining company. The Company is engaged in the acquisition, exploration, development, and mining of silver-related mineral properties in China. The Company’s segments include Mining, including projects, such as Henan Luoning, Hunan, Guangdong and Other, and Administrative, which includes Beijing and Vancouver.
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