Silvercorp Metals (NYSEAMERICAN:SVM) Hits New 12-Month High – Still a Buy?

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.87 and last traded at $8.62, with a volume of 1790662 shares. The stock had previously closed at $8.13.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Cormark upgraded Silvercorp Metals to a “moderate buy” rating in a report on Thursday, September 25th. Zacks Research lowered Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Raymond James Financial reaffirmed an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, October 10th. Roth Capital upped their price target on shares of Silvercorp Metals to $9.00 and gave the company a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald set a $7.50 price objective on shares of Silvercorp Metals and gave the company an “overweight” rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

Silvercorp Metals Stock Performance

The firm’s fifty day simple moving average is $7.03 and its 200 day simple moving average is $5.62. The company has a market capitalization of $1.89 billion, a PE ratio of 71.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.59 and a quick ratio of 4.50.

Silvercorp Metals Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were paid a $0.0125 dividend. This represents a dividend yield of 32.0%. The ex-dividend date was Friday, November 28th. Silvercorp Metals’s payout ratio is currently 8.33%.

Institutional Trading of Silvercorp Metals

Several institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its stake in shares of Silvercorp Metals by 24.2% during the 3rd quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after buying an additional 2,138,301 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Silvercorp Metals by 38.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock valued at $57,665,000 after buying an additional 2,534,155 shares in the last quarter. Alps Advisors Inc. increased its stake in Silvercorp Metals by 111.9% during the 3rd quarter. Alps Advisors Inc. now owns 2,552,762 shares of the company’s stock worth $16,133,000 after buying an additional 1,347,819 shares in the last quarter. U S Global Investors Inc. raised its holdings in shares of Silvercorp Metals by 29.5% during the third quarter. U S Global Investors Inc. now owns 1,562,671 shares of the company’s stock valued at $9,876,000 after acquiring an additional 356,005 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Silvercorp Metals in the third quarter valued at approximately $8,962,000. 22.30% of the stock is owned by institutional investors and hedge funds.

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.