Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 8.9% - Here's What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) shares were down 8.9% during mid-day trading on Friday . The stock traded as low as $4.13 and last traded at $4.18. Approximately 1,153,388 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 2,062,068 shares. The stock had previously closed at $4.59.

Wall Street Analysts Forecast Growth

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

Silvercorp Metals Trading Down 10.0 %

The stock has a market cap of $895.92 million, a PE ratio of 15.30 and a beta of 1.33.

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

Institutional Trading of Silvercorp Metals

Several hedge funds and other institutional investors have recently made changes to their positions in SVM. Van ECK Associates Corp grew its position in Silvercorp Metals by 153.8% during the 3rd quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company's stock valued at $105,689,000 after purchasing an additional 13,399,851 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Silvercorp Metals during the first quarter valued at approximately $17,619,000. Acadian Asset Management LLC raised its holdings in Silvercorp Metals by 1,218.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company's stock worth $4,520,000 after acquiring an additional 1,252,174 shares during the last quarter. TD Asset Management Inc bought a new position in Silvercorp Metals in the 2nd quarter valued at approximately $568,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Silvercorp Metals by 2.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,366,682 shares of the company's stock valued at $23,369,000 after purchasing an additional 115,300 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company's stock.

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.