Silvercorp Metals (TSE:SVM) Sets New 52-Week High After Analyst Upgrade

Silvercorp Metals Inc. (TSE:SVM)’s stock price reached a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$13.00 to C$17.50. The company traded as high as C$16.92 and last traded at C$16.49, with a volume of 264702 shares. The stock had previously closed at C$15.74.

Several other equities analysts have also recently issued reports on SVM. Canaccord Genuity Group raised their price objective on Silvercorp Metals from C$9.50 to C$13.00 in a research note on Thursday, October 2nd. Cormark raised shares of Silvercorp Metals to a “moderate buy” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$15.25.

Insider Activity at Silvercorp Metals

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

Silvercorp Metals Stock Up 4.8%

The firm’s 50 day simple moving average is C$11.30 and its 200 day simple moving average is C$8.85. The company has a market cap of C$3.63 billion, a price-to-earnings ratio of 149.91, a price-to-earnings-growth ratio of 0.03 and a beta of 2.07. The company has a quick ratio of 4.43, a current ratio of 3.04 and a debt-to-equity ratio of 0.18.

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

Silvercorp Metals Company Profile

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.