Renaissance Technologies LLC Buys 110,200 Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM)

Renaissance Technologies LLC raised its stake in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,636,096 shares of the company’s stock after acquiring an additional 110,200 shares during the quarter. Renaissance Technologies LLC owned approximately 2.61% of Silvercorp Metals worth $15,577,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rathbones Group PLC raised its holdings in shares of Silvercorp Metals by 27.4% in the second quarter. Rathbones Group PLC now owns 17,140 shares of the company’s stock valued at $57,000 after buying an additional 3,690 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Silvercorp Metals by 0.8% in the second quarter. American Century Companies Inc. now owns 1,125,635 shares of the company’s stock valued at $3,768,000 after buying an additional 9,300 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Silvercorp Metals by 1,218.7% in the second quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock valued at $4,520,000 after buying an additional 1,252,174 shares during the last quarter. TD Asset Management Inc bought a new position in shares of Silvercorp Metals in the second quarter valued at about $568,000. Finally, First Heartland Consultants Inc. bought a new position in shares of Silvercorp Metals in the second quarter valued at about $34,000. 22.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Roth Mkm cut their price target on Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating for the company in a report on Wednesday, August 21st.

Silvercorp Metals Price Performance

Shares of SVM stock opened at $4.25 on Friday. The stock has a market capitalization of $921.27 million, a P/E ratio of 21.25 and a beta of 1.34. Silvercorp Metals Inc. has a 12 month low of $2.08 and a 12 month high of $4.39.

Silvercorp Metals (NYSEAMERICAN:SVM) last posted its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The company had revenue of $72.17 million during the quarter, compared to analyst estimates of $72.00 million. Silvercorp Metals had a return on equity of 7.95% and a net margin of 21.57%. Equities analysts anticipate that Silvercorp Metals Inc. will post 0.23 earnings per share for the current fiscal year.

About Silvercorp Metals

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.