JPMorgan Chase & Co. Purchases 874,170 Shares of Silvercorp Metals Inc. $SVM

JPMorgan Chase & Co. increased its holdings in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 1,253.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 943,902 shares of the company’s stock after buying an additional 874,170 shares during the quarter. JPMorgan Chase & Co. owned 0.43% of Silvercorp Metals worth $5,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Silvercorp Metals by 163.4% in the third quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock worth $40,000 after acquiring an additional 3,929 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Silvercorp Metals during the 3rd quarter valued at about $57,000. SeaCrest Wealth Management LLC acquired a new position in shares of Silvercorp Metals in the 3rd quarter valued at approximately $67,000. Merit Financial Group LLC acquired a new position in shares of Silvercorp Metals in the 3rd quarter valued at approximately $88,000. Finally, NewEdge Advisors LLC bought a new stake in Silvercorp Metals during the 1st quarter worth approximately $97,000. 22.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Silvercorp Metals Stock Performance

Shares of Silvercorp Metals stock opened at $10.74 on Wednesday. The firm has a market cap of $2.37 billion, a PE ratio of -153.41 and a beta of 0.92. The business’s 50 day simple moving average is $11.31 and its 200 day simple moving average is $8.81. Silvercorp Metals Inc. has a 52-week low of $3.15 and a 52-week high of $14.00.

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.