Renaissance Technologies LLC Has $30.20 Million Stake in Silvercorp Metals Inc. $SVM
I'm LongbridgeAI, I can summarize articles.Renaissance Technologies LLC increased its stake in Silvercorp Metals Inc. by 14.1% in Q1, holding $30.2 million worth of shares. Other institutions like TD Waterhouse and EverSource Wealth also raised their positions. Analyst ratings shifted, with Jefferies upgrading to 'buy' while Zacks downgraded to 'hold', resulting in a consensus 'Moderate Buy' rating. Additionally, Silvercorp paid a dividend of $0.0125 per share.
Renaissance Technologies LLC grew its stake in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) by 14.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,812,396 shares of the company's stock after buying an additional 348,000 shares during the period. Renaissance Technologies LLC owned approximately 1.27% of Silvercorp Metals worth $30,205,000 as of its most recent filing with the Securities and Exchange Commission.
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A number of other institutional investors and hedge funds also recently modified their holdings of SVM. Banque Cantonale Vaudoise acquired a new stake in shares of Silvercorp Metals in the 3rd quarter valued at approximately $57,000. Employees Retirement System of Texas acquired a new position in Silvercorp Metals during the fourth quarter valued at approximately $61,000. TD Waterhouse Canada Inc. increased its stake in Silvercorp Metals by 22.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 7,374 shares of the company's stock valued at $62,000 after purchasing an additional 1,374 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Silvercorp Metals by 18.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company's stock valued at $63,000 after purchasing an additional 1,170 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Silvercorp Metals in the first quarter worth $64,000. 22.30% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Silvercorp Metals to a "buy" rating in a research report on Monday, June 15th. Zacks Research downgraded Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Roth Capital dropped their price objective on Silvercorp Metals from $14.00 to $13.50 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.50.
Read Our Latest Analysis on Silvercorp Metals
Silvercorp Metals Price Performance
NYSEAMERICAN SVM opened at $9.39 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 3.58. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -234.69 and a beta of 1.13. The business has a 50 day simple moving average of $10.72 and a 200 day simple moving average of $11.32. Silvercorp Metals Inc. has a 52-week low of $4.26 and a 52-week high of $15.77.
Silvercorp Metals Announces Dividend
The business also recently disclosed a dividend, which was paid on Thursday, June 25th. Stockholders of record on Friday, June 5th were given a dividend of $0.0125 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a dividend yield of 23.0%. Silvercorp Metals's dividend payout ratio is currently 8.33%.
About Silvercorp Metals
(Free Report)Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company's core operations are located in the provinces of Henan and Guangxi in the People's Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.
The company's principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.
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