Short Interest in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Rises By 46.9%

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 10,150,000 shares, a growth of 46.9% from the November 15th total of 6,910,000 shares. Based on an average daily volume of 3,780,000 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their price objective 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.

Institutional Investors Weigh In On Silvercorp Metals

Several hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Silvercorp Metals during the third quarter valued at $682,000. Van ECK Associates Corp grew its holdings in shares of Silvercorp Metals by 153.8% during the 3rd quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company’s stock valued at $105,689,000 after acquiring an additional 13,399,851 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Silvercorp Metals by 1,218.7% during the second quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock worth $4,520,000 after acquiring an additional 1,252,174 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Silvercorp Metals during the 3rd quarter valued at about $887,000. Finally, TD Asset Management Inc bought a new stake in shares of Silvercorp Metals in the 2nd quarter valued at approximately $568,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

Silvercorp Metals Price Performance

Silvercorp Metals stock traded down $0.09 during mid-day trading on Friday, reaching $3.05. The company’s stock had a trading volume of 2,243,095 shares, compared to its average volume of 2,298,919. Silvercorp Metals has a twelve month low of $2.22 and a twelve month high of $5.32. The company has a market cap of $663.56 million, a PE ratio of 11.35 and a beta of 1.20.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Silvercorp Metals had a net margin of 23.07% and a return on equity of 8.12%. The company had revenue of $68.00 million for the quarter, compared to analyst estimates of $67.90 million. Equities research analysts anticipate that Silvercorp Metals 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. Investors of record on Friday, November 29th will be paid a dividend of $0.0125 per share. This represents a yield of 0.6%. The ex-dividend date is Friday, November 29th. Silvercorp Metals’s dividend payout ratio is presently 10.00%.

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.