Silvercorp Metals (NYSEAMERICAN:SVM) Trading Up 7% – Here’s What Happened

Shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) rose 7% during mid-day trading on Wednesday . The company traded as high as $3.41 and last traded at $3.45. Approximately 1,936,865 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,364,406 shares. The stock had previously closed at $3.22.

Silvercorp Metals Trading Up 7.6 %

The stock has a market cap of $754.40 million, a PE ratio of 11.55 and a beta of 1.20.

Institutional Investors Weigh In On Silvercorp Metals

A number of hedge funds and other institutional investors have recently modified their holdings of SVM. Van ECK Associates Corp grew its holdings in shares of Silvercorp Metals by 153.8% during 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 period. National Bank of Canada FI grew its stake in Silvercorp Metals by 5,059.2% in the third quarter. National Bank of Canada FI now owns 399,835 shares of the company’s stock worth $1,747,000 after purchasing an additional 392,085 shares during the period. JPMorgan Chase & Co. lifted its position in Silvercorp Metals by 75.3% during the third quarter. JPMorgan Chase & Co. now owns 618,015 shares of the company’s stock valued at $2,701,000 after buying an additional 265,387 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Silvercorp Metals during the third quarter valued at $887,000. Finally, XTX Topco Ltd grew its position in shares of Silvercorp Metals by 1,092.1% in the 3rd quarter. XTX Topco Ltd now owns 216,511 shares of the company’s stock worth $946,000 after buying an additional 198,349 shares during the period. 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.