Canaccord Genuity Group Trims Silvercorp Metals (TSE:SVM) Target Price to C$7.00

Silvercorp Metals (TSE:SVM) had its price target decreased by equities research analysts at Canaccord Genuity Group from C$7.50 to C$7.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 47.99% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Raymond James raised their price objective on shares of Silvercorp Metals from C$5.50 to C$7.00 in a research note on Tuesday. BMO Capital Markets set a C$5.00 price target on Silvercorp Metals and gave the stock an “outperform” rating in a research note on Wednesday, February 21st.

Silvercorp Metals Price Performance

Shares of SVM traded down C$0.11 during mid-day trading on Wednesday, hitting C$4.73. 133,284 shares of the stock were exchanged, compared to its average volume of 268,896. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.43 and a current ratio of 3.73. The company has a market cap of C$836.36 million, a PE ratio of 20.57, a price-to-earnings-growth ratio of 0.03 and a beta of 0.91. Silvercorp Metals has a 52-week low of C$2.88 and a 52-week high of C$5.47. The firm has a 50-day moving average of C$4.11 and a two-hundred day moving average of C$3.59.

Silvercorp Metals (TSE:SVM) last released its quarterly earnings results on Thursday, February 8th. The company reported C$0.08 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.02. The company had revenue of C$79.66 million during the quarter, compared to analyst estimates of C$74.39 million. Silvercorp Metals had a return on equity of 7.50% and a net margin of 15.01%. On average, equities analysts predict that Silvercorp Metals will post 0.3522572 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Yikang Liu sold 15,167 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$4.03, for a total transaction of C$61,053.24. In other news, Director Yikang Liu sold 15,167 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$4.03, for a total transaction of C$61,053.24. Also, Director Rui Feng sold 40,000 shares of Silvercorp Metals stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$5.18, for a total value of C$207,200.00. Insiders own 4.38% 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.