Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 5.2%

Silvercorp Metals Inc (NYSEAMERICAN:SVM)’s stock price dropped 5.2% on Wednesday . The company traded as low as $3.60 and last traded at $3.62, approximately 1,674,997 shares traded hands during trading. An increase of 288% from the average daily volume of 432,023 shares. The stock had previously closed at $3.82.

SVM has been the subject of a number of research reports. TheStreet upgraded shares of Silvercorp Metals from a “c+” rating to a “b-” rating in a research report on Tuesday, July 16th. Zacks Investment Research upgraded shares of Silvercorp Metals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $45.58 million during the quarter, compared to the consensus estimate of $45.50 million.

Several hedge funds have recently added to or reduced their stakes in SVM. AJO LP raised its stake in Silvercorp Metals by 10,871.8% in the first quarter. AJO LP now owns 1,173,981 shares of the company’s stock valued at $2,994,000 after purchasing an additional 1,163,281 shares in the last quarter. Renaissance Technologies LLC raised its stake in Silvercorp Metals by 25.1% in the second quarter. Renaissance Technologies LLC now owns 3,669,510 shares of the company’s stock valued at $9,027,000 after purchasing an additional 735,100 shares in the last quarter. Morgan Stanley raised its stake in Silvercorp Metals by 22.1% in the second quarter. Morgan Stanley now owns 3,641,137 shares of the company’s stock valued at $8,957,000 after purchasing an additional 658,548 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Silvercorp Metals in the first quarter valued at approximately $1,537,000. Finally, JPMorgan Chase & Co. raised its stake in Silvercorp Metals by 19.6% in the second quarter. JPMorgan Chase & Co. now owns 1,681,313 shares of the company’s stock valued at $4,220,000 after purchasing an additional 275,347 shares in the last quarter.

Silvercorp Metals Company Profile (NYSEAMERICAN:SVM)

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. Its flagship project is the Ying silver-lead-zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd.

Recommended Story: What member countries make up the G-20?

Receive News & Ratings for Silvercorp Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silvercorp Metals and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit