683 Capital Management LLC Cuts Stake in Silvercorp Metals Inc. $SVM

683 Capital Management LLC decreased its position in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 22.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the company’s stock after selling 100,000 shares during the period. 683 Capital Management LLC’s holdings in Silvercorp Metals were worth $1,477,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Silvercorp Metals by 419.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,232 shares of the company’s stock valued at $31,000 after purchasing an additional 5,839 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Silvercorp Metals in the 1st quarter valued at approximately $39,000. Ballentine Partners LLC purchased a new stake in shares of Silvercorp Metals in the second quarter valued at approximately $50,000. Campbell & CO Investment Adviser LLC acquired a new position in Silvercorp Metals during the second quarter worth $73,000. Finally, Quarry LP purchased a new position in Silvercorp Metals in the first quarter worth $82,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

Silvercorp Metals Price Performance

Shares of NYSEAMERICAN SVM opened at $8.13 on Friday. The company’s 50-day moving average price is $6.98 and its 200 day moving average price is $5.53. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 67.76 and a beta of 1.00. The company has a current ratio of 4.59, a quick ratio of 4.50 and a debt-to-equity ratio of 0.13. Silvercorp Metals Inc. has a 52 week low of $2.87 and a 52 week high of $8.86.

Silvercorp Metals Announces Dividend

The company also recently declared a dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a dividend of $0.0125 per share. This represents a dividend yield of 32.0%. The ex-dividend date of this dividend was Friday, November 28th. Silvercorp Metals’s dividend payout ratio (DPR) is currently 8.33%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SVM. Cormark upgraded shares of Silvercorp Metals to a “moderate buy” rating in a research report on Thursday, September 25th. Raymond James Financial reissued an “outperform” rating on shares of Silvercorp Metals in a report on Friday, October 10th. Cantor Fitzgerald set a $7.50 target price on shares of Silvercorp Metals and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Zacks Research downgraded shares of Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. Finally, Roth Capital set a $8.25 price target on Silvercorp Metals and gave the stock a “buy” rating in a research note on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Silvercorp Metals has an average rating of “Moderate Buy” and an average price target of $7.88.

Silvercorp Metals Profile

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.