Silvercorp Metals Inc (SVM) Short Interest Up 33.1% in October
Silvercorp Metals Inc (NYSE:SVM) was the target of a large increase in short interest during the month of October. As of October 13th, there was short interest totalling 268,418 shares, an increase of 33.1% from the September 29th total of 201,636 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 212,369 shares, the days-to-cover ratio is presently 1.3 days.
Institutional investors have recently modified their holdings of the company. AJO LP purchased a new stake in shares of Silvercorp Metals in the second quarter worth approximately $3,652,000. Swiss National Bank purchased a new stake in shares of Silvercorp Metals in the second quarter worth approximately $879,000. Alliancebernstein L.P. purchased a new stake in shares of Silvercorp Metals in the second quarter worth approximately $1,749,000. PDT Partners LLC purchased a new stake in shares of Silvercorp Metals in the second quarter worth approximately $442,000. Finally, First Manhattan Co. purchased a new stake in shares of Silvercorp Metals in the second quarter worth approximately $197,000.
Several research analysts have weighed in on SVM shares. Roth Capital started coverage on Silvercorp Metals in a research report on Tuesday, August 29th. They set a “buy” rating and a $3.50 price target on the stock. TheStreet lowered Silvercorp Metals from a “b-” rating to a “c” rating in a research report on Tuesday, August 22nd.
Silvercorp Metals (SVM) traded down 0.76% on Tuesday, hitting $2.60. The company’s stock had a trading volume of 132,114 shares. The stock has a market cap of $436.52 million and a PE ratio of 9.29. Silvercorp Metals has a 12 month low of $2.07 and a 12 month high of $4.50. The firm has a 50 day moving average of $2.88 and a 200-day moving average of $2.91.
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About Silvercorp Metals
Silvercorp Metals Inc (Silvercorp) is a silver-producing Canadian mining company. The Company is engaged in the acquisition, exploration, development, and mining of silver-related mineral properties in China. The Company’s segments include Mining, including projects, such as Henan Luoning, Hunan, Guangdong and Other, and Administrative, which includes Beijing and Vancouver.
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