Raymond James Weighs in on Silvercorp Metals Inc.’s FY2024 Earnings (NYSEAMERICAN:SVM)

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) – Research analysts at Raymond James increased their FY2024 EPS estimates for shares of Silvercorp Metals in a research note issued on Monday, April 22nd. Raymond James analyst C. Stanley now expects that the company will post earnings per share of $0.19 for the year, up from their previous forecast of $0.17. The consensus estimate for Silvercorp Metals’ current full-year earnings is $0.20 per share.

Separately, Roth Mkm dropped their price objective on Silvercorp Metals from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday.

Silvercorp Metals Trading Down 6.8 %

Shares of SVM opened at $3.31 on Thursday. Silvercorp Metals has a 12-month low of $2.08 and a 12-month high of $3.98. The firm has a market capitalization of $586.90 million, a P/E ratio of 19.47 and a beta of 1.21.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Silvercorp Metals had a return on equity of 6.96% and a net margin of 15.01%. The company had revenue of $58.51 million for the quarter, compared to analysts’ expectations of $55.10 million.

Institutional Investors Weigh In On Silvercorp Metals

Several large investors have recently added to or reduced their stakes in SVM. Barclays PLC increased its holdings in Silvercorp Metals by 368.2% in the 2nd quarter. Barclays PLC now owns 36,050 shares of the company’s stock worth $102,000 after acquiring an additional 28,350 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Silvercorp Metals by 45.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,994 shares of the company’s stock valued at $159,000 after buying an additional 21,252 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Silvercorp Metals by 0.3% during the 3rd quarter. Mackenzie Financial Corp now owns 1,627,255 shares of the company’s stock valued at $3,679,000 after buying an additional 5,524 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Silvercorp Metals by 2.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,369,793 shares of the company’s stock valued at $10,213,000 after buying an additional 88,279 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in Silvercorp Metals by 103.9% during the 3rd quarter. Jump Financial LLC now owns 139,863 shares of the company’s stock valued at $329,000 after buying an additional 71,263 shares in the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.

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.