Silvercorp Metals (NYSEAMERICAN:SVM) Stock Price Up 5.3% – Time to Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price traded up 5.3% during trading on Monday . The company traded as high as $12.42 and last traded at $12.3030. 1,240,892 shares were traded during mid-day trading, a decline of 82% from the average session volume of 7,015,240 shares. The stock had previously closed at $11.68.

Wall Street Analysts Forecast Growth

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

Silvercorp Metals Price Performance

The firm has a market cap of $2.72 billion, a P/E ratio of -176.19 and a beta of 0.97. The stock’s 50-day simple moving average is $10.13 and its two-hundred day simple moving average is $7.55.

Institutional Trading of Silvercorp Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Silvercorp Metals by 419.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company’s stock valued at $31,000 after purchasing an additional 5,839 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Silvercorp Metals by 163.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock valued at $40,000 after buying an additional 3,929 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Silvercorp Metals during the 3rd quarter valued at about $57,000. Employees Retirement System of Texas purchased a new stake in Silvercorp Metals in the 4th quarter valued at about $61,000. Finally, TD Waterhouse Canada Inc. boosted its position in Silvercorp Metals by 22.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock valued at $62,000 after buying an additional 1,374 shares during the period. Hedge funds and other institutional investors 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.