Silvercorp Metals (NYSEAMERICAN:SVM) Reaches New 12-Month High – Here’s What Happened

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) reached a new 52-week high during trading on Friday . The stock traded as high as $4.70 and last traded at $4.68, with a volume of 707255 shares changing hands. The stock had previously closed at $4.54.

Analyst Ratings Changes

Separately, Roth Mkm reduced 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 report on Wednesday, August 21st.

Silvercorp Metals Stock Performance

The firm has a market cap of $986.30 million, a price-to-earnings ratio of 22.75 and a beta of 1.35.

Silvercorp Metals (NYSEAMERICAN:SVM) last posted its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Silvercorp Metals had a net margin of 21.57% and a return on equity of 7.95%. The firm had revenue of $72.17 million during the quarter, compared to the consensus estimate of $72.00 million. As a group, research analysts expect that Silvercorp Metals Inc. will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Silvercorp Metals

Several institutional investors have recently modified their holdings of the business. Rathbones Group PLC grew its stake 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 worth $57,000 after acquiring an additional 3,690 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Silvercorp Metals by 56.3% during the second quarter. Toronto Dominion Bank now owns 15,094 shares of the company’s stock worth $51,000 after purchasing an additional 5,435 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Silvercorp Metals by 0.8% during the second quarter. American Century Companies Inc. now owns 1,125,635 shares of the company’s stock worth $3,768,000 after purchasing an additional 9,300 shares in the last quarter. First Heartland Consultants Inc. acquired a new position in shares of Silvercorp Metals during the second quarter worth $34,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Silvercorp Metals by 96.9% during the second quarter. Cubist Systematic Strategies LLC now owns 32,122 shares of the company’s stock worth $107,000 after purchasing an additional 15,807 shares in the last quarter. Institutional investors and hedge funds own 22.30% of the company’s stock.

Silvercorp Metals Company Profile

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.