Silvercorp Metals (TSE:SVM) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Silvercorp Metals Inc. (TSE:SVM) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$15.61 and traded as low as C$14.00. Silvercorp Metals shares last traded at C$14.28, with a volume of 1,836,783 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SVM. Roth Mkm lowered shares of Silvercorp Metals from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. BMO Capital Markets upped their target price on shares of Silvercorp Metals from C$13.00 to C$17.50 in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Silvercorp Metals has a consensus rating of “Moderate Buy” and a consensus target price of C$15.25.

Silvercorp Metals Stock Performance

The company has a quick ratio of 4.43, a current ratio of 1.24 and a debt-to-equity ratio of 16.17. The stock has a market cap of C$3.14 billion, a P/E ratio of -158.00, a PEG ratio of 0.03 and a beta of 2.33. The stock has a fifty day simple moving average of C$15.57 and a 200-day simple moving average of C$11.99.

Silvercorp Metals (TSE:SVM) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$0.30 EPS for the quarter. The company had revenue of C$173.10 million during the quarter. Silvercorp Metals had a negative return on equity of 2.33% and a negative net margin of 4.57%. Equities analysts expect that Silvercorp Metals Inc. will post 0.5394046 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Silvercorp Metals news, Director Yikang Liu sold 9,999 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of C$11.84, for a total value of C$118,388.16. Following the completion of the sale, the director owned 113,333 shares of the company’s stock, valued at approximately C$1,341,862.72. This represents a 8.11% decrease in their ownership of the stock. Insiders own 3.67% of the company’s stock.

Silvercorp Metals Company Profile

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential.