Silvercorp Metals (TSE:SVM) Hits New 1-Year High – Time to Buy?

Shares of Silvercorp Metals Inc. (TSE:SVM) hit a new 52-week high during trading on Monday . The stock traded as high as C$12.61 and last traded at C$12.37, with a volume of 908409 shares. The stock had previously closed at C$11.45.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SVM. Cormark upgraded shares of Silvercorp Metals to a “moderate buy” rating in a research report on Thursday, September 25th. Canaccord Genuity Group upped their target price on shares of Silvercorp Metals from C$9.50 to C$13.00 in a research report on Thursday, October 2nd. Finally, BMO Capital Markets raised their price target on shares of Silvercorp Metals from C$10.00 to C$12.00 in a report on Thursday, October 16th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$12.50.

Silvercorp Metals Stock Performance

The stock’s 50 day moving average is C$10.39 and its two-hundred day moving average is C$8.32. The firm has a market capitalization of C$2.66 billion, a P/E ratio of 109.73, a P/E/G ratio of 0.03 and a beta of 2.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.04 and a quick ratio of 4.43.

Silvercorp Metals (TSE:SVM) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.10 earnings per share (EPS) for the quarter. The firm had revenue of C$116.03 million for the quarter. Silvercorp Metals had a net margin of 23.07% and a return on equity of 9.91%. As a group, equities analysts anticipate that Silvercorp Metals Inc. will post 0.5394046 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Silvercorp Metals news, Director Yikang Liu sold 9,999 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of C$11.84, for a total value of C$118,388.16. Following the transaction, the director owned 113,333 shares of the company’s stock, valued at approximately C$1,341,862.72. This represents a 8.11% decrease in their ownership of the stock. Corporate insiders own 3.67% of the company’s stock.

About Silvercorp Metals

Silvercorp Metals Inc is a mineral mining company. It acquires, explores, develops, and mines precious and base metal mineral properties at its producing mines and exploration and development projects in China. The group produces silver, gold, lead, and zinc.