Silvercorp Metals (NYSEAMERICAN:SVM) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Silvercorp Metals (NYSEAMERICAN:SVM) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Roth Capital cut their price objective on Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating for the company in a report on Tuesday, June 30th. Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a report on Monday, June 15th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Silvercorp Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Silvercorp Metals Price Performance

SVM opened at $9.53 on Monday. The company’s 50-day simple moving average is $11.15 and its two-hundred day simple moving average is $11.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 3.58. The stock has a market capitalization of $2.11 billion, a P/E ratio of -238.19 and a beta of 1.13. Silvercorp Metals has a 52-week low of $4.26 and a 52-week high of $15.77.

Silvercorp Metals Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 25th. Shareholders of record on Friday, June 5th were given a $0.0125 dividend. The ex-dividend date was Friday, June 5th. This represents a yield of 23.0%. Silvercorp Metals’s dividend payout ratio (DPR) is presently 8.33%.

Institutional Investors Weigh In On Silvercorp Metals

A number of hedge funds have recently modified their holdings of SVM. Royal Bank of Canada increased its stake in shares of Silvercorp Metals by 31.6% in the 1st quarter. Royal Bank of Canada now owns 444,453 shares of the company’s stock worth $1,720,000 after purchasing an additional 106,813 shares in the last quarter. NewEdge Advisors LLC bought a new position in Silvercorp Metals in the 1st quarter worth $97,000. Goldman Sachs Group Inc. lifted its position in Silvercorp Metals by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 845,675 shares of the company’s stock valued at $3,273,000 after purchasing an additional 28,803 shares in the last quarter. Jane Street Group LLC lifted its position in Silvercorp Metals by 91.4% during the first quarter. Jane Street Group LLC now owns 102,296 shares of the company’s stock valued at $396,000 after purchasing an additional 48,854 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Silvercorp Metals by 5.7% during the second quarter. Geode Capital Management LLC now owns 123,058 shares of the company’s stock valued at $519,000 after purchasing an additional 6,637 shares during the period. Institutional investors own 22.30% of the company’s stock.

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.