Silvercorp Metals (NYSEAMERICAN:SVM) Trading 7.5% Higher – Here’s What Happened

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) traded up 7.5% on Friday . The stock traded as high as $11.36 and last traded at $11.2950. 2,711,487 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 5,129,813 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Separately, Roth Mkm restated a “neutral” rating and issued a $13.25 target price on shares of Silvercorp Metals in a research note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.38.

Silvercorp Metals Stock Performance

The stock has a 50-day simple moving average of $12.25 and a 200-day simple moving average of $10.86. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -284.33 and a beta of 1.08. The company has a current ratio of 3.58, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10.

Silvercorp Metals Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, June 25th. Investors of record on Friday, June 5th will be issued a $0.0125 dividend. This represents a yield of 23.0%. The ex-dividend date of this dividend is Friday, June 5th. Silvercorp Metals’s payout ratio is currently 8.33%.

Institutional Trading of Silvercorp Metals

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming bought a new stake in Silvercorp Metals in the first quarter valued at about $64,000. EverSource Wealth Advisors LLC increased its holdings in Silvercorp Metals by 163.4% in the third quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock valued at $40,000 after buying an additional 3,929 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Silvercorp Metals in the first quarter valued at about $69,000. Employees Retirement System of Texas acquired a new position in shares of Silvercorp Metals in the 4th quarter valued at about $61,000. Finally, Leonteq Securities AG acquired a new position in shares of Silvercorp Metals in the 1st quarter valued at about $79,000. 22.30% of the stock is owned by institutional investors.

About Silvercorp Metals

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.