Silvercorp Metals (NYSEAMERICAN:SVM) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Silvercorp Metals (NYSEAMERICAN:SVM) posted its quarterly earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01, Zacks reports. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The business had revenue of $72.10 million for the quarter, compared to analyst estimates of $72.10 million.

Silvercorp Metals Stock Up 6.7%

Silvercorp Metals stock traded up $0.56 during mid-day trading on Friday, reaching $8.90. The stock had a trading volume of 2,753,256 shares, compared to its average volume of 2,296,578. The stock’s 50-day simple moving average is $10.50 and its 200-day simple moving average is $11.19. Silvercorp Metals has a fifty-two week low of $5.97 and a fifty-two week high of $15.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.46 and a current ratio of 3.51. The firm has a market capitalization of $1.97 billion, a PE ratio of 46.84 and a beta of 1.23.

Silvercorp Metals Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 27th will be given a $0.0125 dividend. This represents a yield of 29.0%. The ex-dividend date of this dividend is Friday, November 27th. Silvercorp Metals’s payout ratio is presently 8.33%.

Silvercorp Metals declared that its board has authorized a share repurchase program on Thursday, September 17th that permits the company to buy back 8,850,000 shares. This buyback authorization permits the company to buy up to 4% of its stock through open market purchases. Share buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

SVM has been the subject of a number of research reports. National Bank Financial started coverage on shares of Silvercorp Metals in a report on Thursday, October 8th. They issued a “hold” rating for the company. Zacks Research cut Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Roth Capital restated a “buy” rating and set a $14.00 price target (up from $13.50) on shares of Silvercorp Metals in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.00.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian mining company focused on the acquisition, exploration, development and operation of precious- and base-metal properties. The company’s production profile is centered on silver, lead and zinc, with its operations and mineral projects located primarily in China and Ecuador.

In China, Silvercorp operates the Ying Mining District in Henan Province, which includes the Ying, HPG and TLP mines. These underground operations produce silver-lead and zinc-lead concentrates for sale to smelters and other customers.