Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Down – Should You Sell?

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) gapped down prior to trading on Wednesday . The stock had previously closed at $4.05, but opened at $3.46. Silvercorp Metals shares last traded at $3.32, with a volume of 3,068,278 shares.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price objective on shares of Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Silvercorp Metals Trading Down 5.8 %

The firm has a market capitalization of $729.37 million, a P/E ratio of 11.18 and a beta of 1.33.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $68.00 million during the quarter, compared to analysts’ expectations of $67.90 million. Silvercorp Metals had a net margin of 23.07% and a return on equity of 8.12%. As a group, equities research analysts forecast that Silvercorp Metals Inc. will post 0.34 EPS for the current year.

Silvercorp Metals Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 0.6%. Silvercorp Metals’s dividend payout ratio is presently 10.00%.

Hedge Funds Weigh In On Silvercorp Metals

Several hedge funds have recently modified their holdings of SVM. Tidal Investments LLC purchased a new position in shares of Silvercorp Metals during the 1st quarter valued at about $17,619,000. Virtu Financial LLC purchased a new stake in Silvercorp Metals in the first quarter worth about $206,000. Williams & Novak LLC bought a new stake in Silvercorp Metals in the second quarter worth $61,000. First Heartland Consultants Inc. purchased a new stake in Silvercorp Metals during the 2nd quarter valued at about $34,000. Finally, TD Asset Management Inc bought a new stake in shares of Silvercorp Metals during the second quarter valued at approximately $568,000. Institutional investors own 22.30% of the company’s stock.

Silvercorp Metals Company 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.