Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up to $3.22

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped up prior to trading on Wednesday . The stock had previously closed at $3.22, but opened at $3.40. Silvercorp Metals shares last traded at $3.37, with a volume of 393,903 shares.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a “buy” rating and issued a $6.00 price target (up previously from $5.75) on shares of Silvercorp Metals in a report on Tuesday, May 28th.

Silvercorp Metals Stock Performance

The stock has a market cap of $589.86 million, a P/E ratio of 17.10 and a beta of 1.26.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $42.68 million during the quarter, compared to analyst estimates of $38.50 million. Silvercorp Metals had a return on equity of 6.71% and a net margin of 16.87%. Analysts anticipate that Silvercorp Metals Inc. will post 0.25 EPS for the current fiscal year.

Silvercorp Metals Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 7th were paid a dividend of $0.0125 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a yield of 0.6%. Silvercorp Metals’s payout ratio is 15.00%.

Hedge Funds Weigh In On Silvercorp Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in Silvercorp Metals in the 2nd quarter worth approximately $157,000. Renaissance Technologies LLC increased its stake in shares of Silvercorp Metals by 2.4% in the second quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company’s stock worth $15,577,000 after acquiring an additional 110,200 shares during the period. Rathbones Group PLC raised its holdings in shares of Silvercorp Metals by 27.4% during the second quarter. Rathbones Group PLC now owns 17,140 shares of the company’s stock worth $57,000 after purchasing an additional 3,690 shares during the last quarter. American Century Companies Inc. lifted its position in Silvercorp Metals by 0.8% during the second quarter. American Century Companies Inc. now owns 1,125,635 shares of the company’s stock valued at $3,768,000 after purchasing an additional 9,300 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Silvercorp Metals by 1,218.7% in the second quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock valued at $4,520,000 after purchasing an additional 1,252,174 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.

About Silvercorp Metals

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.