Silvercorp Metals (NYSEAMERICAN:SVM) Shares Up 6.8% – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares traded up 6.8% during mid-day trading on Tuesday . The stock traded as high as $3.17 and last traded at $3.14. 1,361,836 shares changed hands during trading, a decline of 50% from the average session volume of 2,726,775 shares. The stock had previously closed at $2.94.

Silvercorp Metals Trading Up 6.8 %

The stock has a market cap of $683.14 million, a PE ratio of 10.47 and a beta of 1.20.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its earnings results on Thursday, November 7th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $68.00 million during the quarter, compared to analysts’ expectations of $67.90 million. Silvercorp Metals had a return on equity of 8.12% and a net margin of 23.07%. Research analysts expect that Silvercorp Metals Inc. will post 0.34 earnings per share for the current fiscal year.

Silvercorp Metals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.0125 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, November 29th. Silvercorp Metals’s payout ratio is 10.00%.

Institutional Investors Weigh In On Silvercorp Metals

Several hedge funds and other institutional investors have recently made changes to their positions in SVM. Van ECK Associates Corp boosted its position in shares of Silvercorp Metals by 153.8% during the 3rd quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company’s stock valued at $105,689,000 after acquiring an additional 13,399,851 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Silvercorp Metals by 2.1% in the 3rd quarter. Tidal Investments LLC now owns 6,412,871 shares of the company’s stock valued at $28,024,000 after buying an additional 133,231 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Silvercorp Metals by 2.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,366,682 shares of the company’s stock worth $23,369,000 after buying an additional 115,300 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Silvercorp Metals by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company’s stock valued at $15,577,000 after buying an additional 110,200 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Silvercorp Metals by 0.8% in the second quarter. American Century Companies Inc. now owns 1,125,635 shares of the company’s stock valued at $3,768,000 after acquiring an additional 9,300 shares during the last quarter. Institutional investors and hedge funds 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.