Canaccord Genuity Reaffirms “Hold” Rating for Silvercorp Metals (TSE:SVM)

Canaccord Genuity reissued their hold rating on shares of Silvercorp Metals (TSE:SVM) in a report published on Monday morning, BayStreet.CA reports. They currently have a C$12.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. Eight Capital lifted their price target on shares of Silvercorp Metals from C$9.25 to C$11.00 in a research note on Monday, August 10th. BMO Capital Markets lifted their price target on shares of Silvercorp Metals from C$6.75 to C$8.25 in a research note on Monday, August 10th. Pi Financial lifted their price objective on shares of Silvercorp Metals from C$9.00 to C$10.00 in a report on Friday, August 28th. Finally, Alliance Global Partners lifted their price objective on shares of Silvercorp Metals from C$4.50 to C$5.50 in a report on Thursday, May 28th.

SVM opened at C$11.23 on Monday. Silvercorp Metals has a 1-year low of C$2.12 and a 1-year high of C$11.62. The company has a current ratio of 5.13, a quick ratio of 4.83 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.96 billion and a P/E ratio of 52.23. The company has a fifty day moving average price of C$10.33 and a two-hundred day moving average price of C$7.04.

Silvercorp Metals (TSE:SVM) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.06 earnings per share for the quarter, meeting the consensus estimate of C$0.06. The company had revenue of C$64.76 million during the quarter, compared to the consensus estimate of C$61.86 million. On average, research analysts forecast that Silvercorp Metals will post 0.1994455 EPS for the current fiscal year.

In related news, Director Stephen Paul Simpson sold 28,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of C$7.23, for a total transaction of C$202,510.00. Following the transaction, the director now directly owns 880,884 shares in the company, valued at C$6,370,993.53. Also, Director Yikang Liu sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of C$7.83, for a total transaction of C$78,308.00. Following the transaction, the director now owns 70,000 shares in the company, valued at C$548,156. Insiders have sold 131,900 shares of company stock valued at $1,183,309 over the last quarter.

Silvercorp Metals Company Profile

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.

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