Silvercorp Metals Inc. (TSE:SVM – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$6.38 and last traded at C$6.32, with a volume of 292026 shares trading hands. The stock had previously closed at C$6.16.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on SVM shares. Eight Capital boosted their target price on Silvercorp Metals from C$6.20 to C$7.00 in a research note on Thursday, July 11th. BMO Capital Markets boosted their price objective on Silvercorp Metals from C$6.00 to C$7.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Raymond James raised their target price on shares of Silvercorp Metals from C$7.00 to C$7.50 in a report on Thursday, August 1st.
Silvercorp Metals Trading Up 0.5 %
Silvercorp Metals (TSE:SVM – Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported C$0.16 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.04. Silvercorp Metals had a net margin of 21.57% and a return on equity of 10.92%. The company had revenue of C$98.74 million for the quarter, compared to analyst estimates of C$98.53 million. Analysts forecast that Silvercorp Metals Inc. will post 0.5394046 EPS for the current year.
Insider Activity at Silvercorp Metals
In other news, Senior Officer Derek Zhihua Liu sold 53,333 shares of Silvercorp Metals stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$5.86, for a total transaction of C$312,531.38. Insiders own 3.67% of the company’s stock.
About Silvercorp Metals
Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.
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