Silvercorp Metals (TSE:SVM) Reaches New 12-Month High After Analyst Upgrade

Silvercorp Metals Inc. (TSE:SVM) reached a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from C$13.00 to C$17.50. The company traded as high as C$16.92 and last traded at C$16.49, with a volume of 264702 shares changing hands. The stock had previously closed at C$15.74.

Several other analysts have also commented on the company. Canaccord Genuity Group boosted their price target on Silvercorp Metals from C$9.50 to C$13.00 in a research note on Thursday, October 2nd. Cormark upgraded shares of Silvercorp Metals to a “moderate buy” rating in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$15.25.

Insider Activity at Silvercorp Metals

In related news, Director Yikang Liu sold 9,999 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of C$11.84, for a total value of C$118,388.16. Following the completion of the sale, the director owned 113,333 shares of the company’s stock, valued at C$1,341,862.72. This trade represents a 8.11% decrease in their ownership of the stock. 3.67% of the stock is owned by company insiders.

Silvercorp Metals Price Performance

The company has a market capitalization of C$3.71 billion, a price-to-earnings ratio of 153.27, a PEG ratio of 0.03 and a beta of 2.07. The company has a current ratio of 3.04, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of C$11.59 and a 200 day moving average price of C$9.00.

Silvercorp Metals (TSE:SVM) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.10 earnings per share (EPS) for the quarter. The business had revenue of C$116.03 million for the quarter. Silvercorp Metals had a return on equity of 9.91% and a net margin of 23.07%. As a group, equities research analysts forecast that Silvercorp Metals Inc. will post 0.5394046 earnings per share for the current year.

About Silvercorp Metals

Silvercorp Metals Inc is a mineral mining company. It acquires, explores, develops, and mines precious and base metal mineral properties at its producing mines and exploration and development projects in China. The group produces silver, gold, lead, and zinc.