Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 6.2% – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price fell 6.2% during mid-day trading on Wednesday . The company traded as low as $8.49 and last traded at $8.6760. 1,122,334 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,481,126 shares. The stock had previously closed at $9.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SVM shares. Roth Capital increased their price objective on shares of Silvercorp Metals to $9.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Cormark raised shares of Silvercorp Metals to a “moderate buy” rating in a research note on Thursday, September 25th. Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a report on Friday, October 10th. Finally, Cantor Fitzgerald set a $7.50 price objective on Silvercorp Metals and gave the stock an “overweight” rating in a report on Monday, September 22nd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Silvercorp Metals Stock Down 4.3%

The company has a market cap of $1.95 billion, a P/E ratio of 73.88 and a beta of 0.97. The company has a current ratio of 4.59, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average price is $7.59 and its 200-day moving average price is $6.08.

Silvercorp Metals Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $0.0125 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a yield of 32.0%. Silvercorp Metals’s dividend payout ratio (DPR) is presently 8.33%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Silvercorp Metals by 31.6% during the first quarter. Royal Bank of Canada now owns 444,453 shares of the company’s stock worth $1,720,000 after purchasing an additional 106,813 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Silvercorp Metals by 156.9% during the first quarter. Cubist Systematic Strategies LLC now owns 79,266 shares of the company’s stock worth $306,000 after buying an additional 48,413 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Silvercorp Metals during the 1st quarter worth about $97,000. Goldman Sachs Group Inc. increased its stake in shares of Silvercorp Metals by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company’s stock valued at $3,273,000 after acquiring an additional 28,803 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Silvercorp Metals by 91.4% in the 1st quarter. Jane Street Group LLC now owns 102,296 shares of the company’s stock valued at $396,000 after acquiring an additional 48,854 shares during the last quarter. Institutional investors and hedge funds own 22.30% of the company’s stock.

Silvercorp Metals Company Profile

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.