Silvercorp Metals (SVM) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Silvercorp Metals (NYSEAMERICAN:SVM) from a sell rating to a hold rating in a research report released on Friday.
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. “
Separately, ValuEngine upgraded shares of Silvercorp Metals from a hold rating to a buy rating in a report on Thursday, October 5th.
Silvercorp Metals (NYSEAMERICAN:SVM) opened at $2.73 on Friday. Silvercorp Metals has a 1-year low of $2.12 and a 1-year high of $4.50. The firm has a market cap of $477.58, a P/E ratio of -4.48 and a beta of 1.23.
The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 28th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, November 27th. Silvercorp Metals’s payout ratio is currently -3.28%.
A number of institutional investors and hedge funds have recently made changes to their positions in SVM. Russell Investments Group Ltd. purchased a new stake in Silvercorp Metals during the 2nd quarter valued at $255,000. American Century Companies Inc. purchased a new stake in Silvercorp Metals during the 2nd quarter valued at $1,576,000. Swiss National Bank purchased a new stake in Silvercorp Metals during the 2nd quarter valued at $879,000. JPMorgan Chase & Co. purchased a new stake in Silvercorp Metals during the 2nd quarter valued at $329,000. Finally, CIBC World Markets Inc. purchased a new stake in Silvercorp Metals during the 2nd quarter valued at $584,000.
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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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