Silvercorp Metals (NYSEAMERICAN:SVM) Trading Up 4.5% – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price traded up 4.5% during mid-day trading on Thursday . The stock traded as high as $3.02 and last traded at $3.01. 1,671,781 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 2,300,743 shares. The stock had previously closed at $2.88.

Analyst Upgrades and Downgrades

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

Silvercorp Metals Price Performance

The firm has a market capitalization of $646.15 million, a price-to-earnings ratio of 9.90 and a beta of 1.20.

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

Silvercorp Metals Cuts Dividend

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

Hedge Funds Weigh In On Silvercorp Metals

Several institutional investors have recently made changes to their positions in SVM. DGS Capital Management LLC boosted its position in Silvercorp Metals by 123.2% during the third quarter. DGS Capital Management LLC now owns 38,980 shares of the company’s stock valued at $170,000 after purchasing an additional 21,514 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Silvercorp Metals in the 3rd quarter worth approximately $860,000. Tidal Investments LLC grew its position 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 worth $28,024,000 after buying an additional 133,231 shares during the last quarter. Virtu Financial LLC raised its stake in shares of Silvercorp Metals by 21.1% during the 3rd quarter. Virtu Financial LLC now owns 54,233 shares of the company’s stock worth $237,000 after acquiring an additional 9,465 shares in the last quarter. Finally, Barclays PLC boosted its stake in Silvercorp Metals by 2,712.3% in the third quarter. Barclays PLC now owns 44,997 shares of the company’s stock valued at $197,000 after acquiring an additional 43,397 shares in the last quarter. Hedge funds and other institutional investors 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.