Silvercorp Metals (NYSEAMERICAN:SVM) Reaches New 12-Month High – Here’s What Happened

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) hit a new 52-week high during trading on Friday . The company traded as high as $4.70 and last traded at $4.68, with a volume of 707255 shares traded. The stock had previously closed at $4.54.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price target on shares of 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 stock has a market cap of $986.30 million, a price-to-earnings ratio of 22.75 and a beta of 1.35.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Silvercorp Metals had a net margin of 21.57% and a return on equity of 7.95%. The firm had revenue of $72.17 million during the quarter, compared to analysts’ expectations of $72.00 million. As a group, analysts anticipate that Silvercorp Metals Inc. will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Silvercorp Metals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rathbones Group PLC raised its holdings in shares of Silvercorp Metals by 27.4% in the second quarter. Rathbones Group PLC now owns 17,140 shares of the company’s stock valued at $57,000 after buying an additional 3,690 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Silvercorp Metals by 56.3% in the second quarter. Toronto Dominion Bank now owns 15,094 shares of the company’s stock valued at $51,000 after buying an additional 5,435 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Silvercorp Metals by 0.8% in the second quarter. American Century Companies Inc. now owns 1,125,635 shares of the company’s stock valued at $3,768,000 after buying an additional 9,300 shares during the last quarter. First Heartland Consultants Inc. purchased a new stake in shares of Silvercorp Metals in the second quarter valued at about $34,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Silvercorp Metals by 96.9% in the second quarter. Cubist Systematic Strategies LLC now owns 32,122 shares of the company’s stock valued at $107,000 after buying an additional 15,807 shares during the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.

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.