Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 6.4% – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares fell 6.4% on Tuesday . The company traded as low as $10.04 and last traded at $10.2250. 982,035 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 5,098,264 shares. The stock had previously closed at $10.92.

Analyst Ratings Changes

SVM has been the subject of several recent research reports. Zacks Research upgraded shares of Silvercorp Metals from a “hold” rating to a “strong-buy” rating in a report on Friday, June 19th. Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research note on Monday, June 15th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $14.00 price objective on shares of Silvercorp Metals in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.75.

Silvercorp Metals Trading Down 6.0%

The stock’s 50 day moving average is $12.18 and its 200-day moving average is $11.17. The company has a market cap of $2.27 billion, a P/E ratio of -257.66 and a beta of 1.08. The company has a current ratio of 3.58, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10.

Silvercorp Metals Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, June 25th. Stockholders of record on Friday, June 5th were paid a $0.0125 dividend. This represents a dividend yield of 23.0%. The ex-dividend date was Friday, June 5th. Silvercorp Metals’s dividend payout ratio is currently 8.33%.

Institutional Investors Weigh In On Silvercorp Metals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in Silvercorp Metals by 24.2% in the 3rd quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock valued at $69,306,000 after acquiring an additional 2,138,301 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Silvercorp Metals by 238.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock worth $77,244,000 after purchasing an additional 6,511,389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 worth $57,665,000 after purchasing an additional 2,534,155 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Silvercorp Metals by 29.6% in the 4th quarter. Van ECK Associates Corp now owns 6,845,803 shares of the company’s stock worth $57,097,000 after purchasing an additional 1,562,525 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new position in shares of Silvercorp Metals in the fourth quarter worth $35,248,000. Institutional investors own 22.30% of the company’s stock.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company’s core operations are located in the provinces of Henan and Guangxi in the People’s Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company’s principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.