Canaccord Genuity Group Trims Silvercorp Metals (TSE:SVM) Target Price to C$7.00

Silvercorp Metals (TSE:SVM) had its target price lowered by Canaccord Genuity Group from C$7.50 to C$7.00 in a research report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

SVM has been the subject of a number of other reports. BMO Capital Markets set a C$5.00 price target on Silvercorp Metals and gave the stock an outperform rating in a research note on Wednesday, February 21st. Raymond James increased their price objective on Silvercorp Metals from C$5.50 to C$7.00 in a report on Tuesday.

Silvercorp Metals Stock Down 6.6 %

Shares of Silvercorp Metals stock opened at C$4.52 on Wednesday. The stock has a 50-day moving average price of C$4.18 and a 200 day moving average price of C$3.61. The company has a market cap of C$799.23 million, a P/E ratio of 19.65, a P/E/G ratio of 0.03 and a beta of 0.91. The company has a current ratio of 3.73, a quick ratio of 4.43 and a debt-to-equity ratio of 0.07. Silvercorp Metals has a 1 year low of C$2.88 and a 1 year high of C$5.47.

Silvercorp Metals (TSE:SVM) last posted its quarterly earnings results on Thursday, February 8th. The company reported C$0.08 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.02. Silvercorp Metals had a return on equity of 7.50% and a net margin of 15.01%. The company had revenue of C$79.66 million during the quarter, compared to the consensus estimate of C$74.39 million. As a group, analysts expect that Silvercorp Metals will post 0.3522572 EPS for the current fiscal year.

Insider Buying and Selling at Silvercorp Metals

In other Silvercorp Metals news, Director Rui Feng sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of C$5.18, for a total value of C$207,200.00. In related news, Director Yikang Liu sold 15,167 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$4.03, for a total transaction of C$61,053.24. Also, Director Rui Feng sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of C$5.18, for a total value of C$207,200.00. Insiders own 4.38% 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.