Van ECK Associates Corp Acquires 13,399,851 Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM)

Van ECK Associates Corp increased its position in Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 153.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,110,781 shares of the company's stock after acquiring an additional 13,399,851 shares during the quarter. Van ECK Associates Corp owned about 10.19% of Silvercorp Metals worth $105,689,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC purchased a new position in shares of Silvercorp Metals during the first quarter worth approximately $17,619,000. Acadian Asset Management LLC lifted its stake in Silvercorp Metals by 1,218.7% in the second quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company's stock worth $4,520,000 after purchasing an additional 1,252,174 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Silvercorp Metals by 4.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,670,682 shares of the company's stock worth $15,226,000 after purchasing an additional 199,916 shares during the last quarter. TD Asset Management Inc purchased a new stake in Silvercorp Metals during the second quarter valued at about $568,000. Finally, Renaissance Technologies LLC grew its stake in shares of Silvercorp Metals by 2.4% during the second quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company's stock valued at $15,577,000 after buying an additional 110,200 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company's stock.

Analyst Ratings Changes

Separately, Roth Mkm dropped their target price on shares of Silvercorp Metals from $6.00 to $5.10 and set a "buy" rating for the company in a report on Wednesday, August 21st.

Silvercorp Metals Stock Down 2.2 %

Shares of NYSEAMERICAN SVM traded down $0.10 during trading on Monday, hitting $4.51. The company had a trading volume of 1,969,944 shares, compared to its average volume of 2,055,516. The company has a market capitalization of $978.35 million, a P/E ratio of 16.70 and a beta of 1.33. Silvercorp Metals Inc. has a 12 month low of $2.08 and a 12 month high of $5.32.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Silvercorp Metals had a return on equity of 7.95% and a net margin of 21.57%. The company had revenue of $72.17 million for the quarter, compared to the consensus estimate of $72.00 million. Research analysts anticipate that Silvercorp Metals Inc. will post 0.34 EPS for the current year.

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.