Renaissance Technologies LLC Purchases 348,000 Shares of Silvercorp Metals Inc. $SVM

Renaissance Technologies LLC lifted its position in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 14.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,812,396 shares of the company’s stock after purchasing an additional 348,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Silvercorp Metals were worth $30,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC boosted its position in Silvercorp Metals by 24.2% during the 3rd quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after acquiring an additional 2,138,301 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Silvercorp Metals by 238.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock worth $77,244,000 after purchasing an additional 6,511,389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Silvercorp Metals by 38.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock valued at $57,665,000 after purchasing an additional 2,534,155 shares in the last quarter. Van ECK Associates Corp increased its stake in Silvercorp Metals by 29.6% in the 4th quarter. Van ECK Associates Corp now owns 6,845,803 shares of the company’s stock valued at $57,097,000 after buying an additional 1,562,525 shares during the last quarter. Finally, Baillie Gifford & Co. bought a new stake in Silvercorp Metals during the 4th quarter worth about $35,248,000. Institutional investors and hedge funds own 22.30% of the company’s stock.

Silvercorp Metals Trading Down 3.8%

SVM stock opened at $9.39 on Wednesday. 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 company has a fifty day moving average price of $10.72 and a two-hundred day moving average price of $11.32. Silvercorp Metals Inc. has a one year low of $4.26 and a one year high of $15.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.58 and a quick ratio of 3.50.

Silvercorp Metals Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, June 25th. Investors of record on Friday, June 5th were paid a $0.0125 dividend. The ex-dividend date was Friday, June 5th. This represents a yield of 23.0%. Silvercorp Metals’s dividend payout ratio is 8.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Roth Capital lowered their target price on Silvercorp Metals from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Jefferies Financial Group raised Silvercorp Metals to a “buy” rating in a research report on Monday, June 15th. Finally, Zacks Research downgraded Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

About Silvercorp Metals

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.