Silvercorp Metals (NYSEAMERICAN:SVM) Trading Down 9.3% – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price was down 9.3% during mid-day trading on Tuesday . The company traded as low as $9.90 and last traded at $9.9630. Approximately 1,495,813 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 7,058,536 shares. The stock had previously closed at $10.98.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SVM. Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a report on Wednesday, January 14th. Roth Mkm set a $11.00 price objective on shares of Silvercorp Metals in a research report on Tuesday, February 10th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Silvercorp Metals Price Performance

The firm’s 50 day moving average price is $10.01 and its two-hundred day moving average price is $7.43. The stock has a market cap of $2.45 billion, a PE ratio of -158.41 and a beta of 0.97.

Hedge Funds Weigh In On Silvercorp Metals

Several hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. boosted its stake in Silvercorp Metals by 84.3% during the third quarter. Vontobel Holding Ltd. now owns 368,567 shares of the company’s stock valued at $2,325,000 after buying an additional 168,567 shares during the period. U S Global Investors Inc. boosted its position in shares of Silvercorp Metals by 29.5% during the 3rd 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. Eschler Asset Management LLP bought a new stake in shares of Silvercorp Metals during the 2nd quarter valued at about $1,006,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its holdings in shares of Silvercorp Metals by 182.7% during the third quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 132,000 shares of the company’s stock worth $833,000 after purchasing an additional 85,300 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Silvercorp Metals in the second quarter worth approximately $408,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

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.