Silvercorp Metals (NYSEAMERICAN:SVM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $3.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.64% from the stock’s current price.
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. “
Shares of Silvercorp Metals (NYSEAMERICAN SVM) traded down $0.07 during mid-day trading on Thursday, hitting $2.64. The company had a trading volume of 68,016 shares, compared to its average volume of 376,859. The company has a market capitalization of $432.18, a PE ratio of -4.33 and a beta of 1.37. Silvercorp Metals has a fifty-two week low of $2.12 and a fifty-two week high of $4.50.
Several hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP boosted its stake in shares of Silvercorp Metals by 588.3% in the fourth quarter. Two Sigma Investments LP now owns 114,031 shares of the company’s stock valued at $299,000 after buying an additional 97,465 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Silvercorp Metals by 11.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 526,711 shares of the company’s stock valued at $1,380,000 after buying an additional 52,731 shares during the period. Deutsche Bank AG boosted its stake in shares of Silvercorp Metals by 68.5% in the fourth quarter. Deutsche Bank AG now owns 994,658 shares of the company’s stock valued at $2,606,000 after buying an additional 404,258 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Silvercorp Metals by 37.5% in the fourth quarter. Renaissance Technologies LLC now owns 667,700 shares of the company’s stock valued at $1,749,000 after buying an additional 182,100 shares during the period. Finally, Ninepoint Partners LP boosted its stake in shares of Silvercorp Metals by 51.3% in the fourth quarter. Ninepoint Partners LP now owns 944,067 shares of the company’s stock valued at $2,473,000 after buying an additional 319,900 shares during the period.
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Silvercorp Metals Company Profile
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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