Short Interest in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Grows By 23.6%

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 3,040,000 shares, a growth of 23.6% from the July 31st total of 2,460,000 shares. Based on an average trading volume of 1,530,000 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

Separately, Roth Mkm dropped their price target on 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 Stock Performance

NYSEAMERICAN:SVM traded down $0.17 on Friday, reaching $3.79. 4,795,092 shares of the stock traded hands, compared to its average volume of 1,822,323. The firm has a market cap of $820.54 million, a P/E ratio of 18.95 and a beta of 1.26. Silvercorp Metals has a 12 month low of $2.08 and a 12 month high of $4.39.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Silvercorp Metals had a net margin of 21.57% and a return on equity of 7.95%. The firm had revenue of $72.17 million during the quarter, compared to analyst estimates of $72.00 million. On average, equities research analysts predict that Silvercorp Metals will post 0.23 EPS for the current year.

Institutional Trading of Silvercorp Metals

Large investors have recently made changes to their positions in the stock. First Heartland Consultants Inc. purchased a new position in shares of Silvercorp Metals in the second quarter worth approximately $34,000. PFG Investments LLC purchased a new position in Silvercorp Metals during the first quarter valued at approximately $40,000. Toronto Dominion Bank lifted its holdings in Silvercorp Metals by 56.3% during the second quarter. Toronto Dominion Bank now owns 15,094 shares of the company’s stock valued at $51,000 after purchasing an additional 5,435 shares in the last quarter. Rathbones Group PLC lifted its holdings in Silvercorp Metals by 27.4% during the second quarter. Rathbones Group PLC now owns 17,140 shares of the company’s stock valued at $57,000 after purchasing an additional 3,690 shares in the last quarter. Finally, Williams & Novak LLC purchased a new position in Silvercorp Metals during the second quarter valued at approximately $61,000. 22.30% of the stock is currently owned by institutional investors.

About Silvercorp Metals

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.