Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $10.06, but opened at $9.14. Silvercorp Metals shares last traded at $9.2470, with a volume of 3,291,078 shares changing hands.

Analysts Set New Price Targets

SVM has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Silvercorp Metals in a research note on Friday, January 16th. Roth Mkm set a $11.00 price objective on shares of Silvercorp Metals in a research note 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 equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Silvercorp Metals Stock Performance

The stock has a fifty day moving average price of $11.40 and a 200-day moving average price of $8.52. The firm has a market cap of $2.02 billion, a PE ratio of -130.41 and a beta of 0.92.

Hedge Funds Weigh In On Silvercorp Metals

A number of hedge funds have recently made changes to their positions in SVM. EverSource Wealth Advisors LLC boosted its position in Silvercorp Metals by 163.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock worth $40,000 after purchasing an additional 3,929 shares during the period. Employees Retirement System of Texas purchased a new position in Silvercorp Metals in the fourth quarter valued at about $61,000. TD Waterhouse Canada Inc. lifted its stake in shares of Silvercorp Metals by 22.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock worth $62,000 after purchasing an additional 1,374 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Silvercorp Metals in the third quarter worth about $57,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Silvercorp Metals in the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

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.