Coverage of Silvercorp Metals (NYSEAMERICAN:SVM) Launches at BMO Capital Markets
BMO Capital Markets has initiated a hedge on the shares of Silvercorp Metals (NYSEAMERICAN:SVM – Get a rating) in a report released on Monday, TipRanks reports. The brokerage has set a “hold” rating and a price target of $6.00 on the stock. BMO Capital Markets’ price target would point to a potential upside of 105.48% from the stock’s previous close.
Other analysts have also recently released reports on the stock. TheStreet downgraded shares of Silvercorp Metals from a “b-” rating to a “c+” rating in a Monday, January 31 research report. Zacks Investment Research upgraded Silvercorp Metals from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Saturday, May 21. Two equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat.com, Silvercorp Metals currently has a consensus buy rating and a consensus price target of $6.20.
Shares of Silvercorp Metals Stock traded at $0.08 during Monday trading hours, reaching $2.92. The company’s shares had a trading volume of 108,654 shares, compared to its average volume of 1,369,565. Silvercorp Metals has a 1-year low of $2.46 and a 1-year high of 6, $72. The company has a market capitalization of $517.47 million, a price-earnings ratio of 17.18 and a beta of 0.94.
A number of hedge funds and other institutional investors have recently bought and sold shares of SVM. Jane Street Group LLC increased its stake in Silvercorp Metals by 153.4% in the 1st quarter. Jane Street Group LLC now owns 92,929 shares of the company worth $339,000 after acquiring an additional 56,252 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Silvercorp Metals by 23.7% in the first quarter. Guggenheim Capital LLC now owns 309,267 shares of the company worth $1,120,000 after purchasing an additional 59,200 shares during the period. Invesco Ltd. increased its stake in Silvercorp Metals by 259.3% during the 1st quarter. Invesco Ltd. now owns 49,978 shares of the company valued at $181,000 after purchasing an additional 36,069 shares during the period. Renaissance Technologies LLC increased its equity stake in Silvercorp Metals by 7.0% in Q1. Renaissance Technologies LLC now owns 5,068,096 shares of the company worth $18,365,000 after purchasing an additional 333,365 shares during the period. Finally, Mackenzie Financial Corp increased its holdings of Silvercorp Metals shares by 24.2% in the first quarter. Mackenzie Financial Corp now owns 68,284 shares of the company worth $249,000 after purchasing an additional 13,319 shares during the period. 29.51% of the shares are currently held by hedge funds and other institutional investors.
About Silvercorp Metals (Get a rating)
Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development and operation of mineral properties in China and Mexico. The company mainly explores silver, gold, lead and zinc. Its flagship property is the Ying silver-lead-zinc project located in the Ying mining district in Henan Province, China.
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