FY2024 Earnings Forecast for Silvercorp Metals Inc. Issued By Raymond James (TSE:SVM)

Silvercorp Metals Inc. (TSE:SVM) – Equities researchers at Raymond James raised their FY2024 earnings estimates for shares of Silvercorp Metals in a note issued to investors on Monday, April 22nd. Raymond James analyst C. Stanley now anticipates that the company will post earnings of $0.26 per share for the year, up from their prior estimate of $0.23. The consensus estimate for Silvercorp Metals’ current full-year earnings is $0.35 per share.

Silvercorp Metals (TSE:SVM) last released its quarterly earnings data on Thursday, February 8th. The company reported C$0.08 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.02. The business had revenue of C$79.66 million for the quarter, compared to the consensus estimate of C$74.39 million. Silvercorp Metals had a net margin of 15.01% and a return on equity of 7.50%.

Several other equities research analysts have also recently weighed in on SVM. BMO Capital Markets upped their price target on Silvercorp Metals from C$5.00 to C$6.00 in a research report on Thursday. Canaccord Genuity Group dropped their price objective on Silvercorp Metals from C$7.50 to C$7.00 and set a “buy” rating for the company in a research note on Wednesday.

Silvercorp Metals Price Performance

TSE SVM opened at C$4.84 on Thursday. The company has a market cap of C$855.81 million, a PE ratio of 21.04, a price-to-earnings-growth ratio of 0.03 and a beta of 0.91. Silvercorp Metals has a 52 week low of C$2.88 and a 52 week high of C$5.47. The company has a quick ratio of 4.43, a current ratio of 3.73 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is C$4.14 and its two-hundred day simple moving average is C$3.60.

Insiders Place Their Bets

In other news, Director Rui Feng sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$5.18, for a total transaction of C$207,200.00. In other Silvercorp Metals news, Director Yikang Liu sold 15,167 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$4.03, for a total value of C$61,053.24. Also, Director Rui Feng sold 40,000 shares of Silvercorp Metals stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$5.18, for a total value of C$207,200.00. 4.38% of the stock is owned by corporate insiders.

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.