Silvercorp Metals (NYSEAMERICAN:SVM) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Silvercorp Metals (NYSEAMERICAN:SVM) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

SVM has been the subject of a number of other reports. Roth Capital cut their price objective on shares of Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a report on Monday, June 15th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Silvercorp Metals presently has a consensus rating of “Moderate Buy” and an average price target of $10.50.

Silvercorp Metals Stock Performance

Shares of SVM opened at $9.94 on Monday. The firm has a market capitalization of $2.20 billion, a P/E ratio of -248.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 3.58. Silvercorp Metals has a 52 week low of $4.26 and a 52 week high of $15.77. The stock has a 50 day moving average price of $11.03 and a two-hundred day moving average price of $11.29.

Silvercorp Metals Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, June 25th. Investors of record on Friday, June 5th were given a dividend of $0.0125 per share. The ex-dividend date was Friday, June 5th. This represents a yield of 23.0%. Silvercorp Metals’s dividend payout ratio is 8.33%.

Hedge Funds Weigh In On Silvercorp Metals

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its position in shares of Silvercorp Metals by 238.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock valued at $77,244,000 after acquiring an additional 6,511,389 shares during the period. Baillie Gifford & Co. bought a new stake in shares of Silvercorp Metals during the fourth quarter valued at approximately $35,248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Silvercorp Metals by 38.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock valued at $57,665,000 after acquiring an additional 2,534,155 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Silvercorp Metals by 24.2% in the third quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after buying an additional 2,138,301 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Silvercorp Metals by 29.6% during the 4th quarter. Van ECK Associates Corp now owns 6,845,803 shares of the company’s stock valued at $57,097,000 after acquiring an additional 1,562,525 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company’s core operations are located in the provinces of Henan and Guangxi in the People’s Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company’s principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.