Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – Still a Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $3.37, but opened at $3.46. Silvercorp Metals shares last traded at $3.38, with a volume of 1,290,600 shares trading hands.

Analysts Set New Price Targets

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

Silvercorp Metals Stock Performance

The company has a market cap of $744.06 million, a price-to-earnings ratio of 11.40 and a beta of 1.33.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $68.00 million during the quarter, compared to the consensus estimate of $67.90 million. Silvercorp Metals had a net margin of 23.07% and a return on equity of 8.12%. As a group, research analysts anticipate that Silvercorp Metals Inc. will post 0.34 earnings per share for the current year.

Silvercorp Metals Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.0125 dividend. The ex-dividend date is Friday, November 29th. This represents a yield of 0.6%. Silvercorp Metals’s dividend payout ratio (DPR) is presently 10.00%.

Hedge Funds Weigh In On Silvercorp Metals

Several institutional investors have recently added to or reduced their stakes in SVM. Tidal Investments LLC acquired a new position in Silvercorp Metals during the first quarter worth approximately $17,619,000. Virtu Financial LLC acquired a new stake in shares of Silvercorp Metals during the 1st quarter worth $206,000. Williams & Novak LLC purchased a new position in shares of Silvercorp Metals in the 2nd quarter worth $61,000. First Heartland Consultants Inc. purchased a new position in shares of Silvercorp Metals in the 2nd quarter worth $34,000. Finally, TD Asset Management Inc acquired a new position in Silvercorp Metals in the second quarter valued at $568,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

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.