Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Silvercorp Metals Inc. (NYSEAMERICAN:SVMGet Free Report) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 21,393,150 shares, an increase of 34.1% from the December 31st total of 15,956,668 shares. Currently, 10.1% of the company’s stock are short sold. Based on an average trading volume of 5,165,708 shares, the days-to-cover ratio is presently 4.1 days. Based on an average trading volume of 5,165,708 shares, the days-to-cover ratio is presently 4.1 days. Currently, 10.1% of the company’s stock are short sold.

Analyst Ratings Changes

SVM has been the subject of several analyst reports. Roth Mkm set a $11.50 price objective on Silvercorp Metals in a research note on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, January 16th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Silvercorp Metals in a research note on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Silvercorp Metals presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Check Out Our Latest Report on SVM

Institutional Investors Weigh In On Silvercorp Metals

Institutional investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA grew its stake in Silvercorp Metals by 349.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 146,793 shares of the company’s stock valued at $1,229,000 after acquiring an additional 114,128 shares in the last quarter. Sava Infond d.o.o. bought a new position in shares of Silvercorp Metals during the 4th quarter valued at about $2,710,000. TD Waterhouse Canada Inc. grew its position in shares of Silvercorp Metals by 22.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock valued at $62,000 after purchasing an additional 1,374 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Silvercorp Metals by 16.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,467 shares of the company’s stock worth $691,000 after purchasing an additional 11,448 shares during the last quarter. Finally, LOM Asset Management Ltd purchased a new stake in shares of Silvercorp Metals in the fourth quarter worth about $1,309,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Silvercorp Metals Stock Performance

Shares of SVM traded up $0.55 on Tuesday, reaching $10.56. The company’s stock had a trading volume of 6,496,000 shares, compared to its average volume of 7,522,572. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.59 and a quick ratio of 4.50. Silvercorp Metals has a 12-month low of $3.15 and a 12-month high of $14.00. The stock has a market capitalization of $2.33 billion, a P/E ratio of 88.05 and a beta of 0.97. The stock’s 50 day simple moving average is $9.31 and its two-hundred day simple moving average is $6.94.

Silvercorp Metals Dividend Announcement

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

Silvercorp Metals Company Profile

(Get Free Report)

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.

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