Silvercorp Metals (NYSEAMERICAN:SVM) Trading 3.4% Higher – Still a Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) rose 3.4% on Friday . The stock traded as high as $8.88 and last traded at $8.8840. Approximately 3,456,106 shares changed hands during trading, a decline of 42% from the average daily volume of 5,943,643 shares. The stock had previously closed at $8.59.

Wall Street Analyst Weigh In

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

Silvercorp Metals Stock Up 3.3%

The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 73.96 and a beta of 1.00. 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 stock has a fifty day moving average of $7.26 and a 200-day moving average of $5.81.

Silvercorp Metals Dividend Announcement

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

Institutional Trading of Silvercorp Metals

Hedge funds have recently made changes to their positions in the stock. Nuveen LLC acquired a new position in shares of Silvercorp Metals in the first quarter worth $628,000. Vident Advisory LLC grew its stake in Silvercorp Metals by 10.1% in the first quarter. Vident Advisory LLC now owns 259,431 shares of the company’s stock valued at $1,004,000 after purchasing an additional 23,816 shares in the last quarter. Quarry LP acquired a new position in Silvercorp Metals in the 1st quarter worth about $82,000. Royal Bank of Canada raised its stake in shares of Silvercorp Metals by 31.6% during the 1st 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 in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Silvercorp Metals by 156.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 79,266 shares of the company’s stock valued at $306,000 after buying an additional 48,413 shares during the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.

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.