Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – Time to Sell?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.34, but opened at $11.81. Silvercorp Metals shares last traded at $11.5520, with a volume of 376,530 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SVM. Roth Capital reaffirmed a “buy” rating and set a $14.00 target price (up from $13.50) on shares of Silvercorp Metals in a research report on Wednesday, August 12th. Zacks Research cut Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Silvercorp Metals Price Performance

The company has a market cap of $2.53 billion, a PE ratio of 95.33 and a beta of 1.22. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $11.36 and a 200-day simple moving average of $11.44.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings results on Monday, August 10th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The business had revenue of $138.67 million during the quarter, compared to analyst estimates of $138.70 million. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, research analysts predict that Silvercorp Metals Inc. will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silvercorp Metals

Several institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC acquired a new position in shares of Silvercorp Metals during the second quarter worth $829,000. TD Waterhouse Canada Inc. boosted its position in shares of Silvercorp Metals by 26.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,094 shares of the company’s stock worth $172,000 after purchasing an additional 3,594 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Silvercorp Metals in the 2nd quarter worth $1,272,000. Van ECK Associates Corp grew its stake in Silvercorp Metals by 125.6% during the 2nd quarter. Van ECK Associates Corp now owns 15,941,612 shares of the company’s stock worth $161,025,000 after buying an additional 8,875,001 shares during the last quarter. Finally, Caitlin John LLC purchased a new position in Silvercorp Metals during the 2nd quarter worth $252,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. Its primary products include silver, lead and zinc, with gold also produced or contained in certain deposits.

The company has historically operated mines in China, including the Ying Mining District in Henan province, the GC mine in Guangdong province and the BYP gold-lead-zinc mine. Silvercorp’s activities have included underground mining, mineral processing and exploration aimed at extending mine life and expanding its resource base.

Silvercorp has also expanded its international portfolio through projects in Ecuador, including the El Domo-Curipamba project and the Condor gold project.