Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up - Time to Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $3.37, but opened at $3.46. Silvercorp Metals shares last traded at $3.38, with a volume of 1,290,600 shares traded.

Analysts Set New Price Targets

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

Silvercorp Metals Price Performance

The company has a market capitalization of $744.06 million, a price-to-earnings ratio of 11.37 and a beta of 1.33.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $68.00 million during the quarter, compared to the consensus estimate of $67.90 million. Silvercorp Metals had a return on equity of 8.12% and a net margin of 23.07%. As a group, sell-side analysts anticipate that Silvercorp Metals Inc. will post 0.34 earnings per share for the current year.

Silvercorp Metals Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.0125 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 29th. Silvercorp Metals's dividend payout ratio (DPR) is currently 10.00%.

Institutional Trading of Silvercorp Metals

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp grew its position in Silvercorp Metals by 153.8% during the third quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company's stock worth $105,689,000 after buying an additional 13,399,851 shares in the last quarter. Acadian Asset Management LLC increased 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 valued at $4,520,000 after purchasing an additional 1,252,174 shares in the last quarter. TD Asset Management Inc acquired a new stake in Silvercorp Metals in the 2nd quarter valued at $568,000. SG Americas Securities LLC purchased a new position in Silvercorp Metals during the 3rd quarter worth $82,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Silvercorp Metals by 96.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,122 shares of the company's stock worth $107,000 after buying an additional 15,807 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors.

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.

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