Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up to $3.22

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped up prior to trading on Wednesday . The stock had previously closed at $3.22, but opened at $3.40. Silvercorp Metals shares last traded at $3.37, with a volume of 393,903 shares trading hands.

Analysts Set New Price Targets

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

Silvercorp Metals Stock Performance

The company has a market cap of $589.86 million, a P/E ratio of 17.10 and a beta of 1.26.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $42.68 million for the quarter, compared to analyst estimates of $38.50 million. Silvercorp Metals had a return on equity of 6.71% and a net margin of 16.87%. On average, research analysts forecast that Silvercorp Metals Inc. will post 0.25 EPS for the current fiscal year.

Silvercorp Metals Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 7th were issued a $0.0125 dividend. This represents a dividend yield of 0.6%. The ex-dividend date was Friday, June 7th. Silvercorp Metals’s payout ratio is currently 15.00%.

Hedge Funds Weigh In On Silvercorp Metals

Institutional investors have recently bought and sold shares of the company. First Heartland Consultants Inc. acquired a new position in Silvercorp Metals during the 2nd quarter worth approximately $34,000. PFG Investments LLC acquired a new position in Silvercorp Metals during the first quarter worth $40,000. Rathbones Group PLC raised its position in Silvercorp Metals by 27.4% in the second quarter. Rathbones Group PLC now owns 17,140 shares of the company’s stock worth $57,000 after acquiring an additional 3,690 shares in the last quarter. Williams & Novak LLC acquired a new stake in Silvercorp Metals in the second quarter valued at $61,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Silvercorp Metals by 77.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 26,479 shares of the company’s stock worth $70,000 after purchasing an additional 11,546 shares in the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

About Silvercorp Metals

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.