Zacks Investment Research Downgrades Silvercorp Metals (SVM) to Sell
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, TheStreet lowered Silvercorp Metals from a b- rating to a c+ rating in a report on Monday, May 20th.
Silvercorp Metals (NYSEAMERICAN:SVM) last posted its earnings results on Thursday, May 23rd. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). The firm had revenue of $34.95 million during the quarter, compared to the consensus estimate of $37.40 million.
The firm also recently declared a semiannual dividend, which will be paid on Friday, June 28th. Investors of record on Sunday, June 9th will be given a dividend of $0.0125 per share. This represents a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, June 6th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. National Asset Management Inc. increased its position in shares of Silvercorp Metals by 20.7% during the first quarter. National Asset Management Inc. now owns 28,524 shares of the company’s stock valued at $73,000 after acquiring an additional 4,896 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Silvercorp Metals during the first quarter valued at approximately $27,000. Hsbc Holdings PLC purchased a new stake in shares of Silvercorp Metals during the first quarter valued at approximately $28,000. Signition LP increased its position in shares of Silvercorp Metals by 44.4% during the fourth quarter. Signition LP now owns 37,700 shares of the company’s stock valued at $79,000 after acquiring an additional 11,600 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in shares of Silvercorp Metals during the first quarter valued at approximately $32,000.
Silvercorp Metals Company Profile
Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. Its flagship project is the Ying silver-lead-zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd.
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