Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up to $3.38

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped up before the market opened on Thursday . The stock had previously closed at $3.38, but opened at $3.47. Silvercorp Metals shares last traded at $3.51, with a volume of 322,337 shares traded.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their target price on Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating on the stock in a research report on Wednesday, August 21st.

Silvercorp Metals Price Performance

The firm has a market cap of $777.24 million, a P/E ratio of 17.80 and a beta of 1.34.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Silvercorp Metals had a return on equity of 7.95% and a net margin of 21.57%. The business had revenue of $72.17 million during the quarter, compared to analysts’ expectations of $72.00 million. On average, research analysts anticipate that Silvercorp Metals Inc. will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silvercorp Metals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Heartland Consultants Inc. acquired a new stake in Silvercorp Metals during the 2nd quarter worth approximately $34,000. Toronto Dominion Bank lifted its stake in shares of Silvercorp Metals by 56.3% in the second quarter. Toronto Dominion Bank now owns 15,094 shares of the company’s stock worth $51,000 after acquiring an additional 5,435 shares in the last quarter. Rathbones Group PLC boosted its holdings in Silvercorp Metals by 27.4% in the second quarter. Rathbones Group PLC now owns 17,140 shares of the company’s stock valued at $57,000 after purchasing an additional 3,690 shares during the last quarter. Williams & Novak LLC acquired a new stake in Silvercorp Metals during the 2nd quarter valued at approximately $61,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in Silvercorp Metals by 77.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,479 shares of the company’s stock worth $70,000 after purchasing an additional 11,546 shares in the last quarter. Institutional investors and hedge funds own 22.30% of the company’s stock.

Silvercorp Metals Company Profile

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.