Silvercorp Metals (NYSEAMERICAN:SVM) Trading 4.5% Higher – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price shot up 4.5% during mid-day trading on Tuesday . The stock traded as high as $3.04 and last traded at $3.04. 349,321 shares were traded during trading, a decline of 85% from the average session volume of 2,326,029 shares. The stock had previously closed at $2.91.

Silvercorp Metals Trading Up 3.1 %

The stock has a market cap of $652.68 million, a PE ratio of 10.00 and a beta of 1.20.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Silvercorp Metals had a return on equity of 8.12% and a net margin of 23.07%. The business had revenue of $68.00 million during the quarter, compared to analysts’ expectations of $67.90 million. On average, research analysts forecast that Silvercorp Metals Inc. will post 0.34 EPS for the current fiscal year.

Silvercorp Metals Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.0125 dividend. This represents a yield of 0.6%. The ex-dividend date was Friday, November 29th. Silvercorp Metals’s payout ratio is presently 10.00%.

Institutional Trading of Silvercorp Metals

A number of hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Silvercorp Metals by 153.8% in the 3rd quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company’s stock worth $105,689,000 after purchasing an additional 13,399,851 shares during the period. Tidal Investments LLC increased its position in shares of Silvercorp Metals by 2.1% in the third quarter. Tidal Investments LLC now owns 6,412,871 shares of the company’s stock valued at $28,024,000 after buying an additional 133,231 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Silvercorp Metals by 2.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,366,682 shares of the company’s stock worth $23,369,000 after buying an additional 115,300 shares during the period. Renaissance Technologies LLC lifted its position in shares of Silvercorp Metals by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company’s stock valued at $15,577,000 after buying an additional 110,200 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Silvercorp Metals by 1,218.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock valued at $4,520,000 after acquiring an additional 1,252,174 shares during the period. 22.30% of the stock is owned by hedge funds and other 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.