Silvercorp Metals Inc. (NYSEAMERICAN:SVM) Sees Significant Growth in Short Interest

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

Silvercorp Metals Price Performance

Shares of Silvercorp Metals stock opened at $3.79 on Friday. Silvercorp Metals has a one year low of $2.08 and a one year high of $4.39. The stock has a market capitalization of $820.54 million, a P/E ratio of 14.04 and a beta of 1.26.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Silvercorp Metals had a return on equity of 7.95% and a net margin of 21.57%. The firm had revenue of $72.17 million during the quarter, compared to the consensus estimate of $72.00 million. Analysts expect that Silvercorp Metals will post 0.23 EPS for the current fiscal year.

Institutional Trading of Silvercorp Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC bought a new stake in Silvercorp Metals during the 1st quarter worth approximately $17,619,000. Acadian Asset Management LLC grew its holdings in Silvercorp Metals by 1,218.7% during the second quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock worth $4,520,000 after buying an additional 1,252,174 shares in the last quarter. U S Global Investors Inc. raised its position in Silvercorp Metals by 367.1% in the 1st quarter. U S Global Investors Inc. now owns 1,167,700 shares of the company’s stock valued at $3,807,000 after buying an additional 917,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Silvercorp Metals by 4.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,670,682 shares of the company’s stock valued at $15,226,000 after acquiring an additional 199,916 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in Silvercorp Metals during the 2nd quarter valued at $568,000. Institutional investors own 22.30% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm decreased their price target 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.

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.