Silvercorp Metals (NYSEAMERICAN:SVM) Trading 5.3% Higher – Still a Buy?

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) rose 5.3% during trading on Monday . The company traded as high as $12.42 and last traded at $12.3030. Approximately 1,240,892 shares changed hands during trading, a decline of 82% from the average daily volume of 7,015,240 shares. The stock had previously closed at $11.68.

Analyst Ratings Changes

SVM has been the subject of a number of recent research reports. Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. BMO Capital Markets reissued an “outperform” rating on shares of Silvercorp Metals in a report on Friday, January 16th. Finally, Roth Mkm set a $11.00 price target on Silvercorp Metals in a research report on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

Silvercorp Metals Trading Up 5.6%

The company has a market cap of $2.72 billion, a PE ratio of -176.19 and a beta of 0.97. The business’s 50 day moving average is $10.13 and its two-hundred day moving average is $7.55.

Institutional Investors Weigh In On Silvercorp Metals

A number of institutional investors have recently added to or reduced their stakes in SVM. Mackenzie Financial Corp lifted its holdings in shares of Silvercorp Metals by 88.9% in the fourth quarter. Mackenzie Financial Corp now owns 231,751 shares of the company’s stock worth $1,982,000 after buying an additional 109,041 shares in the last quarter. XTX Topco Ltd lifted its stake in Silvercorp Metals by 280.7% in the 4th quarter. XTX Topco Ltd now owns 88,341 shares of the company’s stock worth $737,000 after purchasing an additional 65,134 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Silvercorp Metals by 102.0% in the 4th quarter. Voloridge Investment Management LLC now owns 2,863,819 shares of the company’s stock worth $23,884,000 after purchasing an additional 1,445,799 shares in the last quarter. Oxford Asset Management LLP bought a new position in shares of Silvercorp Metals during the 4th quarter valued at about $710,000. Finally, Orion Resource Partners LP grew its position in shares of Silvercorp Metals by 244.1% during the fourth quarter. Orion Resource Partners LP now owns 359,004 shares of the company’s stock valued at $3,003,000 after purchasing an additional 254,667 shares in the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.

Silvercorp Metals Company Profile

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company’s core operations are located in the provinces of Henan and Guangxi in the People’s Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company’s principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.