Raymond James Analysts Increase Earnings Estimates for Silvercorp Metals Inc. (TSE:SVM)

Silvercorp Metals Inc. (TSE:SVM) – Raymond James lifted their FY2024 earnings estimates for Silvercorp Metals in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst C. Stanley now expects that the company will earn $0.26 per share for the year, up from their previous forecast of $0.23. The consensus estimate for Silvercorp Metals’ current full-year earnings is $0.35 per share.

Several other research firms have also recently commented on SVM. BMO Capital Markets upped their target price on shares of Silvercorp Metals from C$5.00 to C$6.00 in a research report on Thursday. Canaccord Genuity Group decreased their target price on shares of Silvercorp Metals from C$7.50 to C$7.00 and set a “buy” rating for the company in a research report on Wednesday.

Silvercorp Metals Price Performance

TSE SVM opened at C$4.52 on Thursday. Silvercorp Metals has a 52 week low of C$2.88 and a 52 week high of C$5.47. The company has a current ratio of 3.73, a quick ratio of 4.43 and a debt-to-equity ratio of 0.07. The stock has a market cap of C$799.23 million, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 0.03 and a beta of 0.91. The company has a 50-day moving average price of C$4.18 and a two-hundred day moving average price of C$3.61.

Silvercorp Metals (TSE:SVM) last released its quarterly earnings data on Thursday, February 8th. The company reported C$0.08 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.02. Silvercorp Metals had a net margin of 15.01% and a return on equity of 7.50%. The firm had revenue of C$79.66 million for the quarter, compared to analyst estimates of C$74.39 million.

Insider Activity

In other news, Director Rui Feng sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$5.18, for a total value of C$207,200.00. In other news, Director Yikang Liu sold 15,167 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$4.03, for a total value of C$61,053.24. Also, Director Rui Feng sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$5.18, for a total transaction of C$207,200.00. Insiders own 4.38% 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.