Silvercorp Metals (NYSEAMERICAN:SVM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Silvercorp Metals, Inc. engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in the Peoples Republic of China. It explores for silver, gold, lead, and zinc properties. The company primarily operates and develops four Silver-Lead-Zinc mines at the Ying Mining Camp, Henan Province; and the Na-Bao Polymetalic Project in Qinghai Province, China. The company is growing its resource base through continuous exploration of existing projects as well as acquiring new development and exploration projects in multiple jurisdictions. Silvercorp is listed on the Toronto Stock Exchange and the NYSE under the symbol T.SVM and SVM respectively. “
Separately, BMO Capital Markets began coverage on shares of Silvercorp Metals in a research note on Thursday, May 31st. They set an “outperform” rating for the company.
NYSEAMERICAN:SVM opened at $2.69 on Thursday. Silvercorp Metals has a 52 week low of $2.12 and a 52 week high of $3.43.
Silvercorp Metals (NYSEAMERICAN:SVM) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The business had revenue of $45.13 million during the quarter, compared to the consensus estimate of $40.50 million. Silvercorp Metals had a net margin of 11.70% and a return on equity of 3.84%.
Several hedge funds have recently modified their holdings of the stock. Global X Management Co LLC boosted its stake in Silvercorp Metals by 4.0% in the second quarter. Global X Management Co LLC now owns 2,454,473 shares of the company’s stock valued at $6,475,000 after acquiring an additional 94,605 shares in the last quarter. Bank of America Corp DE boosted its stake in Silvercorp Metals by 70.1% in the second quarter. Bank of America Corp DE now owns 62,344 shares of the company’s stock valued at $166,000 after acquiring an additional 25,701 shares in the last quarter. Van ECK Associates Corp boosted its stake in Silvercorp Metals by 2.5% in the second quarter. Van ECK Associates Corp now owns 13,634,024 shares of the company’s stock valued at $36,024,000 after acquiring an additional 326,920 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Silvercorp Metals by 47.4% in the second quarter. Renaissance Technologies LLC now owns 1,773,642 shares of the company’s stock valued at $4,736,000 after acquiring an additional 570,576 shares in the last quarter. Finally, Raffles Associates LP acquired a new position in Silvercorp Metals in the second quarter valued at $200,000.
About Silvercorp Metals
Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. Its flagship project is the Ying silver-lead-zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd.
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