Silvercorp Metals Inc. $SVM Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 62.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 77,699 shares of the company’s stock after selling 131,441 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Silvercorp Metals were worth $833,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Silvercorp Metals during the first quarter worth $64,000. Cetera Investment Advisers boosted its stake in shares of Silvercorp Metals by 66.2% in the 1st quarter. Cetera Investment Advisers now owns 46,117 shares of the company’s stock valued at $495,000 after buying an additional 18,369 shares during the period. Swiss National Bank grew its position in shares of Silvercorp Metals by 1.3% during the first quarter. Swiss National Bank now owns 438,700 shares of the company’s stock worth $4,711,000 after buying an additional 5,700 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Silvercorp Metals in the first quarter valued at approximately $205,000. Finally, Sigma Planning Corp acquired a new position in Silvercorp Metals during the 1st quarter worth approximately $904,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SVM. Roth Capital lowered their target price on shares of Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Finally, Zacks Research downgraded Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Silvercorp Metals has an average rating of “Moderate Buy” and a consensus price target of $10.50.

Silvercorp Metals Price Performance

Shares of NYSEAMERICAN SVM opened at $9.56 on Tuesday. The stock has a market cap of $2.11 billion, a P/E ratio of -238.94 and a beta of 1.15. Silvercorp Metals Inc. has a twelve month low of $4.29 and a twelve month high of $15.77. The stock has a 50 day moving average of $10.51 and a two-hundred day moving average of $11.32. 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 announced a dividend, which was paid on Thursday, June 25th. Stockholders of record on Friday, June 5th were issued a $0.0125 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a dividend yield of 23.0%. Silvercorp Metals’s payout ratio is presently 8.33%.

Silvercorp Metals 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.