Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – Still a Buy?

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped up prior to trading on Friday . The stock had previously closed at $3.37, but opened at $3.46. Silvercorp Metals shares last traded at $3.38, with a volume of 1,290,600 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price target on Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating for the company in a report on Wednesday, August 21st.

Silvercorp Metals Trading Up 1.5 %

The company has a market capitalization of $744.06 million, a PE ratio of 11.40 and a beta of 1.33.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its earnings results on Thursday, November 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $68.00 million for the quarter, compared to analysts’ expectations of $67.90 million. Silvercorp Metals had a return on equity of 8.12% and a net margin of 23.07%. Research analysts expect that Silvercorp Metals Inc. will post 0.34 EPS for the current fiscal year.

Silvercorp Metals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.0125 dividend. This represents a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 29th. Silvercorp Metals’s payout ratio is 10.00%.

Institutional Trading of Silvercorp Metals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC boosted its position in Silvercorp Metals by 21.1% during the third quarter. Virtu Financial LLC now owns 54,233 shares of the company’s stock worth $237,000 after purchasing an additional 9,465 shares in the last quarter. Barclays PLC raised its stake in shares of Silvercorp Metals by 2,712.3% during the 3rd quarter. Barclays PLC now owns 44,997 shares of the company’s stock worth $197,000 after buying an additional 43,397 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Silvercorp Metals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 100,795 shares of the company’s stock worth $439,000 after buying an additional 10,085 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Silvercorp Metals in the 3rd quarter worth about $441,000. Finally, XTX Topco Ltd grew its stake in Silvercorp Metals by 1,092.1% in the 3rd quarter. XTX Topco Ltd now owns 216,511 shares of the company’s stock valued at $946,000 after acquiring an additional 198,349 shares during the last quarter. Institutional investors and hedge funds own 22.30% of the company’s stock.

Silvercorp Metals Company Profile

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.