Silvercorp Metals (NYSEAMERICAN:SVM) Shares Down 2.5% – Here’s Why

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s stock price was down 2.5% during trading on Wednesday . The stock traded as low as $3.07 and last traded at $3.08. Approximately 1,020,520 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 2,988,724 shares. The stock had previously closed at $3.16.

Silvercorp Metals Stock Performance

The stock has a market cap of $687.49 million, a P/E ratio of 10.53 and a beta of 1.20.

Silvercorp Metals (NYSEAMERICAN:SVM) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $68.00 million for 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, analysts forecast that Silvercorp Metals Inc. will post 0.34 EPS for the current year.

Silvercorp Metals Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.0125 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, November 29th. Silvercorp Metals’s dividend payout ratio (DPR) is currently 10.00%.

Institutional Investors Weigh In On Silvercorp Metals

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Silvercorp Metals by 153.8% in the 3rd quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company’s stock worth $105,689,000 after acquiring an additional 13,399,851 shares during the last quarter. Tidal Investments LLC lifted its stake in Silvercorp Metals by 2.1% in the third quarter. Tidal Investments LLC now owns 6,412,871 shares of the company’s stock worth $28,024,000 after purchasing an additional 133,231 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Silvercorp Metals by 2.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,366,682 shares of the company’s stock worth $23,369,000 after purchasing an additional 115,300 shares during the last quarter. Renaissance Technologies LLC boosted its position in Silvercorp Metals by 2.4% during the second quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company’s stock valued at $15,577,000 after buying an additional 110,200 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Silvercorp Metals by 0.8% during the second quarter. American Century Companies Inc. now owns 1,125,635 shares of the company’s stock valued at $3,768,000 after buying an additional 9,300 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.

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.