Silvercorp Metals (SVM) Sees Large Drop in Short Interest

Silvercorp Metals (NYSEAMERICAN:SVM) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 175,111 shares, a decrease of 25.8% from the February 28th total of 236,129 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 359,540 shares, the short-interest ratio is presently 0.5 days.

A number of institutional investors have recently made changes to their positions in SVM. JPMorgan Chase & Co. grew its position in Silvercorp Metals by 486.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 601,673 shares of the company’s stock valued at $1,977,000 after acquiring an additional 499,133 shares during the last quarter. Deutsche Bank AG grew its position in Silvercorp Metals by 68.5% in the 4th quarter. Deutsche Bank AG now owns 994,658 shares of the company’s stock valued at $2,606,000 after acquiring an additional 404,258 shares during the last quarter. Ninepoint Partners LP grew its position in Silvercorp Metals by 51.3% in the 4th quarter. Ninepoint Partners LP now owns 944,067 shares of the company’s stock valued at $2,473,000 after acquiring an additional 319,900 shares during the last quarter. Renaissance Technologies LLC grew its position in Silvercorp Metals by 37.5% in the 4th quarter. Renaissance Technologies LLC now owns 667,700 shares of the company’s stock valued at $1,749,000 after acquiring an additional 182,100 shares during the last quarter. Finally, Global X Management Co. LLC grew its position in Silvercorp Metals by 5.9% in the 4th quarter. Global X Management Co. LLC now owns 2,194,924 shares of the company’s stock valued at $5,746,000 after acquiring an additional 122,412 shares during the last quarter.

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SVM stock opened at $2.71 on Tuesday. The company has a market capitalization of $436.12, a price-to-earnings ratio of -4.44 and a beta of 1.36. Silvercorp Metals has a 12-month low of $2.12 and a 12-month high of $4.10.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The company had revenue of $44.35 million for the quarter, compared to the consensus estimate of $41.40 million. Silvercorp Metals had a return on equity of 3.84% and a net margin of 11.70%.

Separately, Zacks Investment Research upgraded Silvercorp Metals from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Tuesday, March 13th.

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Silvercorp Metals Company Profile

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. The company holds interests in various silver-lead-zinc mines in the Ying Mining District in Henan Province, China, as well as GC mine, which includes silver, lead, and zinc exploration permits in Guangdong Province.

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