Pictet Asset Management Holding SA Sells 79,402 Shares of Silvercorp Metals Inc. $SVM

Pictet Asset Management Holding SA cut its holdings in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 54.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,391 shares of the company’s stock after selling 79,402 shares during the period. Pictet Asset Management Holding SA’s holdings in Silvercorp Metals were worth $722,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Silvercorp Metals in the 3rd quarter worth about $57,000. Employees Retirement System of Texas bought a new stake in Silvercorp Metals during the fourth quarter worth about $61,000. TD Waterhouse Canada Inc. boosted its stake in Silvercorp Metals by 22.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company’s stock worth $62,000 after acquiring an additional 1,374 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Silvercorp Metals by 18.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company’s stock worth $63,000 after purchasing an additional 1,170 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Silvercorp Metals during the third quarter valued at approximately $67,000. Institutional investors own 22.30% of the company’s stock.

Silvercorp Metals Stock Performance

Shares of NYSEAMERICAN SVM opened at $9.11 on Thursday. The firm’s 50-day moving average price is $11.83 and its 200-day moving average price is $11.24. Silvercorp Metals Inc. has a 52-week low of $4.26 and a 52-week high of $15.77. The company has a market cap of $2.02 billion, a PE ratio of -227.69 and a beta of 1.13. The company has a quick ratio of 3.50, a current ratio of 3.58 and a debt-to-equity ratio of 0.10.

Silvercorp Metals Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, June 25th. Investors of record on Friday, June 5th were issued a $0.0125 dividend. This represents a yield of 23.0%. The ex-dividend date of this dividend was Friday, June 5th. Silvercorp Metals’s dividend payout ratio (DPR) is currently 8.33%.

Wall Street Analysts Forecast Growth

SVM has been the topic of several analyst reports. Zacks Research raised Silvercorp Metals from a “hold” rating to a “strong-buy” rating in a report on Friday, June 19th. Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Finally, Roth Capital cut their price objective on shares of Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, Silvercorp Metals currently has an average rating of “Buy” and a consensus target price of $10.50.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company’s core operations are located in the provinces of Henan and Guangxi in the People’s Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company’s principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.