Silvercorp Metals (TSE:SVM) Sets New 12-Month High at $6.94
Silvercorp Metals Inc (TSE:SVM) shares reached a new 52-week high on Tuesday . The stock traded as high as C$6.94 and last traded at C$6.93, with a volume of 80373 shares trading hands. The stock had previously closed at C$6.75.
A number of brokerages have weighed in on SVM. BMO Capital Markets downgraded shares of Silvercorp Metals from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$5.50 to C$5.75 in a research note on Wednesday, September 11th. Eight Capital increased their price target on shares of Silvercorp Metals from C$4.00 to C$5.00 in a research note on Thursday, August 8th.
The stock has a 50-day simple moving average of C$5.77 and a 200 day simple moving average of C$4.62. The stock has a market capitalization of $1.16 billion and a P/E ratio of 26.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.18 and a current ratio of 4.70.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 18th will be given a $0.0125 dividend. The ex-dividend date is Tuesday, November 26th. This represents a yield of 0.19%. Silvercorp Metals’s payout ratio is 9.62%.
In other Silvercorp Metals news, Senior Officer Derek Zhihua Liu sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$6.12, for a total value of C$85,659.00. Following the transaction, the insider now directly owns 36,000 shares of the company’s stock, valued at C$220,266. Also, Director New Pacific Holdings Corp. sold 50,000 shares of Silvercorp Metals stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$5.38, for a total transaction of C$268,855.00. Following the sale, the director now directly owns 58,000 shares of the company’s stock, valued at approximately C$311,871.80. Insiders have sold a total of 210,000 shares of company stock valued at $1,246,891 over the last three months.
About Silvercorp Metals (TSE:SVM)
Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. Its flagship project is the Ying silver-lead-zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd.
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