Silvercorp Metals (NYSEAMERICAN:SVM) Trading 7.5% Higher – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) rose 7.5% during trading on Friday . The stock traded as high as $11.36 and last traded at $11.2950. Approximately 2,711,487 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 5,129,813 shares. The stock had previously closed at $10.51.

Analyst Ratings Changes

Separately, Roth Mkm reaffirmed a “neutral” rating and issued a $13.25 price target on shares of Silvercorp Metals in a report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.38.

Silvercorp Metals Price Performance

The company has a quick ratio of 3.50, a current ratio of 3.58 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.51 billion, a P/E ratio of -284.33 and a beta of 1.08. The business has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $10.86.

Silvercorp Metals Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, June 25th. Shareholders of record on Friday, June 5th will be paid a $0.0125 dividend. This represents a yield of 23.0%. The ex-dividend date is Friday, June 5th. Silvercorp Metals’s dividend payout ratio (DPR) is presently 8.33%.

Institutional Investors Weigh In On Silvercorp Metals

Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in Silvercorp Metals in the first quarter valued at $64,000. EverSource Wealth Advisors LLC increased its position in Silvercorp Metals by 163.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock valued at $40,000 after acquiring an additional 3,929 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Silvercorp Metals in the 1st quarter valued at approximately $69,000. Employees Retirement System of Texas acquired a new stake in Silvercorp Metals in the 4th quarter valued at approximately $61,000. Finally, Leonteq Securities AG acquired a new stake in Silvercorp Metals in the 1st quarter valued at approximately $79,000. 22.30% of the stock is currently owned by 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.