Silvercorp Metals (TSE:SVM) Hits New 52-Week High on Analyst Upgrade

Silvercorp Metals Inc. (TSE:SVM) shares hit a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$13.00 to C$17.50. The company traded as high as C$16.92 and last traded at C$16.49, with a volume of 264702 shares changing hands. The stock had previously closed at C$15.74.

A number of other research firms have also recently commented on SVM. Canaccord Genuity Group lifted their target price on Silvercorp Metals from C$9.50 to C$13.00 in a research note on Thursday, October 2nd. Cormark upgraded shares of Silvercorp Metals to a “moderate buy” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Silvercorp Metals currently has an average rating of “Buy” and an average price target of C$15.25.

Insider Buying and Selling at Silvercorp Metals

In related news, Director Yikang Liu sold 9,999 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of C$11.84, for a total value of C$118,388.16. Following the sale, the director owned 113,333 shares in the company, valued at approximately C$1,341,862.72. This trade represents a 8.11% decrease in their ownership of the stock. Insiders own 3.67% of the company’s stock.

Silvercorp Metals Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 3.04 and a quick ratio of 4.43. The company has a 50 day simple moving average of C$11.44 and a 200-day simple moving average of C$8.93. The firm has a market cap of C$3.65 billion, a PE ratio of 150.55, a price-to-earnings-growth ratio of 0.03 and a beta of 2.07.

Silvercorp Metals (TSE:SVM) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.10 earnings per share for the quarter. The business had revenue of C$116.03 million during the quarter. Silvercorp Metals had a net margin of 23.07% and a return on equity of 9.91%. As a group, equities research analysts anticipate that Silvercorp Metals Inc. will post 0.5394046 EPS for the current year.

About Silvercorp Metals

Silvercorp Metals Inc is a mineral mining company. It acquires, explores, develops, and mines precious and base metal mineral properties at its producing mines and exploration and development projects in China. The group produces silver, gold, lead, and zinc.