Silvercorp Metals (NYSEAMERICAN:SVM) Lowered to Hold at Zacks Investment Research

Silvercorp Metals (NYSEAMERICAN:SVMGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Silvercorp Metals, Inc. engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in the Peoples Republic of China. It explores for silver, gold, lead, and zinc properties. The company primarily operates and develops four Silver-Lead-Zinc mines at the Ying Mining Camp, Henan Province; and the Na-Bao Polymetalic Project in Qinghai Province, China. The company is growing its resource base through continuous exploration of existing projects as well as acquiring new development and exploration projects in multiple jurisdictions. Silvercorp is listed on the Toronto Stock Exchange and the NYSE under the symbol T.SVM and SVM respectively. “

Separately, TheStreet lowered Silvercorp Metals from a “b-” rating to a “c+” rating in a research report on Monday, January 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.80.

SVM opened at $2.78 on Friday. Silvercorp Metals has a 52-week low of $2.46 and a 52-week high of $6.72. The firm has a market cap of $492.35 million, a P/E ratio of 14.63 and a beta of 0.94.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. lifted its holdings in shares of Silvercorp Metals by 8,081.6% in the third quarter. Citigroup Inc. now owns 21,845 shares of the company’s stock valued at $83,000 after purchasing an additional 21,578 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Silvercorp Metals by 25.2% in the third quarter. Renaissance Technologies LLC now owns 4,587,749 shares of the company’s stock worth $17,482,000 after acquiring an additional 924,795 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Silvercorp Metals during the 4th quarter valued at $252,000. The Manufacturers Life Insurance Company boosted its stake in Silvercorp Metals by 3.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 181,870 shares of the company’s stock valued at $878,000 after acquiring an additional 6,562 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of Silvercorp Metals by 11.6% in the 3rd quarter. Guggenheim Capital LLC now owns 300,552 shares of the company’s stock worth $1,145,000 after buying an additional 31,353 shares during the last quarter. Institutional investors own 29.51% of the company’s stock.

Silvercorp Metals Company Profile (Get Rating)

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China and Mexico. The company primarily explores for silver, gold, lead, and zinc metals. Its flagship property is the Ying silver-lead- zinc project located in the Ying Mining District in Henan Province, China.

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