Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Sees Large Increase in Short Interest

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 15,956,668 shares, a growth of 20.3% from the December 15th total of 13,266,222 shares. Approximately 7.6% of the company’s stock are short sold. Based on an average daily volume of 6,080,691 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 6,080,691 shares, the short-interest ratio is presently 2.6 days. Approximately 7.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in shares of Silvercorp Metals by 3.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,683 shares of the company’s stock worth $329,000 after buying an additional 2,581 shares in the last quarter. First Heartland Consultants Inc. grew its holdings in Silvercorp Metals by 25.6% during the fourth quarter. First Heartland Consultants Inc. now owns 14,448 shares of the company’s stock worth $120,000 after acquiring an additional 2,948 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Silvercorp Metals by 14.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,524 shares of the company’s stock worth $187,000 after acquiring an additional 3,745 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Silvercorp Metals by 163.4% in the third quarter. EverSource Wealth Advisors LLC now owns 6,333 shares of the company’s stock valued at $40,000 after acquiring an additional 3,929 shares during the period. Finally, Sprott Inc. boosted its position in shares of Silvercorp Metals by 0.4% during the 3rd quarter. Sprott Inc. now owns 1,301,082 shares of the company’s stock worth $8,212,000 after purchasing an additional 4,732 shares in the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SVM has been the topic of a number of research reports. Roth Capital lowered shares of Silvercorp Metals from a “buy” rating to a “neutral” rating and set a $10.50 target price on the stock. in a report on Tuesday. Cormark raised Silvercorp Metals to a “moderate buy” rating in a research report on Thursday, September 25th. BMO Capital Markets reiterated an “outperform” rating on shares of Silvercorp Metals in a report on Friday. Finally, Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a research note on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Silvercorp Metals Stock Performance

Shares of SVM stock opened at $12.24 on Wednesday. The company has a current ratio of 4.59, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $8.35 and a 200 day moving average price of $6.49. The company has a market cap of $2.70 billion, a P/E ratio of 102.01 and a beta of 0.97. Silvercorp Metals has a 12 month low of $2.93 and a 12 month high of $12.42.

Silvercorp Metals Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.0125 dividend. The ex-dividend date was Friday, November 28th. This represents a dividend yield of 32.0%. Silvercorp Metals’s dividend payout ratio is presently 8.33%.

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.