Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – What’s Next?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share 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.

Analyst Ratings Changes

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

Silvercorp Metals Trading Up 1.5 %

The stock has a market capitalization of $744.06 million, a price-to-earnings ratio of 11.37 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Silvercorp Metals had a return on equity of 8.12% and a net margin of 23.07%. The firm had revenue of $68.00 million for the quarter, compared to analyst estimates of $67.90 million. As a group, research analysts forecast that Silvercorp Metals Inc. will post 0.34 earnings per share for the current year.

Silvercorp Metals Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SVM. Van ECK Associates Corp raised its stake in Silvercorp Metals by 153.8% during the third quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company’s stock worth $105,689,000 after purchasing an additional 13,399,851 shares during the period. Tidal Investments LLC acquired a new position in Silvercorp Metals in the first quarter valued at approximately $17,619,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Silvercorp Metals by 2.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,366,682 shares of the company’s stock worth $23,369,000 after acquiring an additional 115,300 shares during the period. Renaissance Technologies LLC increased its stake in Silvercorp Metals by 2.4% during the second quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company’s stock worth $15,577,000 after acquiring an additional 110,200 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Silvercorp Metals by 1,218.7% in the second quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock valued at $4,520,000 after purchasing an additional 1,252,174 shares during the period. 22.30% of the stock is currently owned by institutional investors and hedge funds.

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.