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

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 2,220,000 shares, an increase of 22.0% from the May 15th total of 1,820,000 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 2,150,000 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

Separately, Roth Mkm restated a “buy” rating and issued a $6.00 target price (up previously from $5.75) on shares of Silvercorp Metals in a report on Tuesday, May 28th.

Silvercorp Metals Trading Up 1.5 %

Silvercorp Metals stock traded up $0.05 during mid-day trading on Friday, reaching $3.48. The company had a trading volume of 1,317,854 shares, compared to its average volume of 1,849,402. The stock has a market cap of $618.08 million, a PE ratio of 17.40 and a beta of 1.31. Silvercorp Metals has a 1 year low of $2.08 and a 1 year high of $4.39.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its quarterly earnings results on Thursday, May 23rd. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $42.68 million during the quarter, compared to analyst estimates of $38.50 million. Silvercorp Metals had a net margin of 16.87% and a return on equity of 6.71%. On average, sell-side analysts forecast that Silvercorp Metals will post 0.28 EPS for the current fiscal year.

Silvercorp Metals Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.0125 per share. This represents a yield of 0.6%. The ex-dividend date is Friday, June 7th. Silvercorp Metals’s payout ratio is currently 15.00%.

Hedge Funds Weigh In On Silvercorp Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of Silvercorp Metals by 8.2% during the fourth quarter. Van ECK Associates Corp now owns 9,106,260 shares of the company’s stock worth $23,949,000 after acquiring an additional 693,952 shares in the last quarter. Tidal Investments LLC bought a new position in Silvercorp Metals in the 1st quarter worth $17,619,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Silvercorp Metals by 4.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,670,682 shares of the company’s stock worth $15,226,000 after purchasing an additional 199,916 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Silvercorp Metals by 5.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,089,582 shares of the company’s stock valued at $9,514,000 after acquiring an additional 219,000 shares during the period. Finally, U S Global Investors Inc. grew its position in Silvercorp Metals by 367.1% in the 1st quarter. U S Global Investors Inc. now owns 1,167,700 shares of the company’s stock worth $3,807,000 after purchasing an additional 917,700 shares during the last quarter. 22.30% of the stock is owned by institutional investors.

Silvercorp Metals Company Profile

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China. The company primarily explores for silver, gold, lead, and zinc metals. It holds a 100% interest in the Kuanping silver-lead-zinc-gold project located in located in Shanzhou District, Sanmenxia City, Henan Province, China; Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; and Baiyunpu (BYP) mine located in Hunan Province, China.