Ninepoint Partners LP lifted its holdings in shares of Silvercorp Metals Inc (NYSEAMERICAN:SVM) by 51.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 944,067 shares of the company’s stock after buying an additional 319,900 shares during the period. Ninepoint Partners LP’s holdings in Silvercorp Metals were worth $2,473,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in shares of Silvercorp Metals in the 2nd quarter worth approximately $2,471,000. JPMorgan Chase & Co. grew its holdings in shares of Silvercorp Metals by 486.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 601,673 shares of the company’s stock worth $1,977,000 after acquiring an additional 499,133 shares during the period. Bank of Montreal Can grew its holdings in shares of Silvercorp Metals by 3.8% in the 4th quarter. Bank of Montreal Can now owns 1,162,582 shares of the company’s stock worth $3,046,000 after acquiring an additional 42,548 shares during the period. American Century Companies Inc. grew its holdings in shares of Silvercorp Metals by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 584,900 shares of the company’s stock worth $1,584,000 after acquiring an additional 92,400 shares during the period. Finally, ARP Americas LLC grew its holdings in shares of Silvercorp Metals by 50.9% in the 3rd quarter. ARP Americas LLC now owns 69,400 shares of the company’s stock worth $188,000 after acquiring an additional 23,400 shares during the period.
Separately, Zacks Investment Research cut Silvercorp Metals from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th.
Silvercorp Metals (NYSEAMERICAN:SVM) last announced its earnings results on Thursday, February 8th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $44.35 million for the quarter, compared to analysts’ expectations of $41.40 million. Silvercorp Metals had a return on equity of 3.84% and a net margin of 11.70%.
Silvercorp Metals announced that its Board of Directors has approved a share repurchase plan on Thursday, November 23rd that authorizes the company to buyback 8,410,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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Silvercorp Metals Company Profile
Silvercorp Metals Inc (Silvercorp) is a silver-producing Canadian mining company. The Company is engaged in the acquisition, exploration, development, and mining of silver-related mineral properties in China. The Company’s segments include Mining, including projects, such as Henan Luoning, Hunan, Guangdong and Other, and Administrative, which includes Beijing and Vancouver.
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