Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up to $3.38

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares gapped up before the market opened on Thursday . The stock had previously closed at $3.38, but opened at $3.47. Silvercorp Metals shares last traded at $3.51, with a volume of 322,337 shares traded.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered their target price on shares of Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Silvercorp Metals Stock Up 6.2 %

The firm has a market capitalization of $777.24 million, a PE ratio of 17.80 and a beta of 1.34.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Silvercorp Metals had a net margin of 21.57% and a return on equity of 7.95%. The company had revenue of $72.17 million during the quarter, compared to analyst estimates of $72.00 million. Sell-side analysts anticipate that Silvercorp Metals Inc. will post 0.23 earnings per share for the current year.

Institutional Trading of Silvercorp Metals

A number of large investors have recently added to or reduced their stakes in the business. First Heartland Consultants Inc. purchased a new position in Silvercorp Metals during the 2nd quarter valued at about $34,000. Toronto Dominion Bank lifted its position in Silvercorp Metals by 56.3% in the 2nd quarter. Toronto Dominion Bank now owns 15,094 shares of the company’s stock worth $51,000 after buying an additional 5,435 shares in the last quarter. Rathbones Group PLC boosted its stake in shares of Silvercorp Metals by 27.4% during the 2nd quarter. Rathbones Group PLC now owns 17,140 shares of the company’s stock valued at $57,000 after buying an additional 3,690 shares during the period. Williams & Novak LLC purchased a new position in shares of Silvercorp Metals during the 2nd quarter valued at $61,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Silvercorp Metals by 77.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,479 shares of the company’s stock worth $70,000 after acquiring an additional 11,546 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors.

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.