Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped up before the market opened on Friday . The stock had previously closed at $4.71, but opened at $4.99. Silvercorp Metals shares last traded at $5.00, with a volume of 1,313,556 shares.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their price target on shares of Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating on the stock in a research note on Wednesday, August 21st.

Silvercorp Metals Price Performance

The firm has a market capitalization of $1.10 billion, a PE ratio of 18.74 and a beta of 1.35.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. Silvercorp Metals had a return on equity of 7.95% and a net margin of 21.57%. The business had revenue of $72.17 million during the quarter, compared to analysts’ expectations of $72.00 million. As a group, analysts anticipate that Silvercorp Metals Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Silvercorp Metals

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Silvercorp Metals by 4.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,670,682 shares of the company’s stock worth $15,226,000 after buying an additional 199,916 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Silvercorp Metals in the 1st quarter worth approximately $17,619,000. Virtu Financial LLC purchased a new position in Silvercorp Metals in the 1st quarter valued at approximately $206,000. Williams & Novak LLC acquired a new position in Silvercorp Metals during the second quarter worth $61,000. Finally, First Heartland Consultants Inc. purchased a new stake in Silvercorp Metals during the second quarter worth $34,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

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.