Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – Time to Sell?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $12.34, but opened at $11.81. Silvercorp Metals shares last traded at $11.5520, with a volume of 376,530 shares.

Wall Street Analysts Forecast Growth

SVM has been the subject of several analyst reports. Zacks Research lowered Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Finally, Roth Capital reissued 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. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Silvercorp Metals Trading Down 7.3%

The stock has a market capitalization of $2.53 billion, a PE ratio of 95.33 and a beta of 1.22. The stock’s 50 day moving average price is $11.36 and its 200-day moving average price is $11.44. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its earnings results on Monday, August 10th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $138.67 million during the quarter, compared to the consensus estimate of $138.70 million. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, sell-side analysts expect that Silvercorp Metals Inc. will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Silvercorp Metals by 18.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company’s stock valued at $63,000 after acquiring an additional 1,170 shares during the last quarter. Parvin Asset Management LLC boosted its stake in shares of Silvercorp Metals by 0.6% during the first quarter. Parvin Asset Management LLC now owns 205,225 shares of the company’s stock valued at $2,204,000 after purchasing an additional 1,175 shares during the period. DGS Capital Management LLC boosted its stake in shares of Silvercorp Metals by 14.6% during the fourth quarter. DGS Capital Management LLC now owns 25,941 shares of the company’s stock valued at $216,000 after purchasing an additional 3,301 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Silvercorp Metals by 26.6% in the second quarter. TD Waterhouse Canada Inc. now owns 17,094 shares of the company’s stock worth $172,000 after purchasing an additional 3,594 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its holdings in shares of Silvercorp Metals by 4.2% in the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 91,700 shares of the company’s stock worth $925,000 after purchasing an additional 3,700 shares during the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.

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. Its primary products include silver, lead and zinc, with gold also produced or contained in certain deposits.

The company has historically operated mines in China, including the Ying Mining District in Henan province, the GC mine in Guangdong province and the BYP gold-lead-zinc mine. Silvercorp’s activities have included underground mining, mineral processing and exploration aimed at extending mine life and expanding its resource base.

Silvercorp has also expanded its international portfolio through projects in Ecuador, including the El Domo-Curipamba project and the Condor gold project.