Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Short Interest Up 34.1% in January

by · The Markets Daily

Silvercorp Metals Inc. (NYSEAMERICAN:SVMGet Free Report) was the target of a large increase in short interest during the month of 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. Approximately 10.1% of the company’s stock are sold short. Based on an average daily volume of 5,165,708 shares, the short-interest ratio is currently 4.1 days. Based on an average daily volume of 5,165,708 shares, the short-interest ratio is currently 4.1 days. Approximately 10.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Silvercorp Metals in a research note on Friday, January 16th. Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a research report on Wednesday, January 14th. Finally, Roth Mkm set a $11.50 price target on Silvercorp Metals in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Get Our Latest Stock Report on Silvercorp Metals

Silvercorp Metals Stock Performance

SVM traded down $2.03 during trading on Friday, reaching $10.07. 14,491,960 shares of the company were exchanged, compared to its average volume of 6,853,259. Silvercorp Metals has a 52 week low of $3.04 and a 52 week high of $14.00. 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 50 day moving average of $9.24 and a 200 day moving average of $6.89. The stock has a market cap of $2.22 billion, a P/E ratio of 83.92 and a beta of 0.97.

Silvercorp Metals Announces Dividend

The business also recently announced a dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a dividend of $0.0125 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a yield of 32.0%. Silvercorp Metals’s dividend payout ratio (DPR) is presently 8.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its stake in Silvercorp Metals by 419.2% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company’s stock valued at $31,000 after purchasing an additional 5,839 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 3,929 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Silvercorp Metals in the third quarter valued at $57,000. TD Waterhouse Canada Inc. boosted its stake in 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 buying an additional 1,374 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in Silvercorp Metals in the third quarter worth about $67,000. Institutional investors and hedge funds own 22.30% of the company’s stock.

About Silvercorp Metals

(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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