Analysts Set Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Target Price at $10.50

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) have received a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.50.

Several equities analysts have issued reports on the company. Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Roth Capital decreased their target price on Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Zacks Research upgraded Silvercorp Metals from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 19th.

Silvercorp Metals Trading Up 1.7%

Shares of Silvercorp Metals stock opened at $9.38 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -234.44 and a beta of 1.13. The company has a quick ratio of 3.50, a current ratio of 3.58 and a debt-to-equity ratio of 0.10. The company has a 50-day simple moving average of $11.64 and a 200 day simple moving average of $11.26. Silvercorp Metals has a 12-month low of $4.26 and a 12-month high of $15.77.

Silvercorp Metals Dividend Announcement

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

Hedge Funds Weigh In On Silvercorp Metals

A number of institutional investors have recently modified their holdings of SVM. Banque Cantonale Vaudoise bought a new stake in shares of Silvercorp Metals during the third quarter valued at approximately $57,000. Employees Retirement System of Texas bought a new position in Silvercorp Metals in the 4th quarter worth approximately $61,000. TD Waterhouse Canada Inc. lifted its holdings in Silvercorp Metals by 22.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock worth $62,000 after buying an additional 1,374 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Silvercorp Metals by 18.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company’s stock worth $63,000 after buying an additional 1,170 shares in the last quarter. Finally, State of Wyoming bought a new position in Silvercorp Metals in the 1st quarter valued at $64,000. 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.