Silvercorp Metals (TSE:SVM) Shares Down 16.8% – Here’s Why

Silvercorp Metals Inc. (TSE:SVM) shares traded down 16.8% during mid-day trading on Wednesday . The company traded as low as C$4.68 and last traded at C$4.71. 756,055 shares changed hands during trading, an increase of 80% from the average session volume of 419,949 shares. The stock had previously closed at C$5.66.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SVM. BMO Capital Markets increased their price target on shares of Silvercorp Metals from C$7.00 to C$7.50 in a research report on Tuesday, October 29th. Raymond James lifted their price target on shares of Silvercorp Metals from C$7.00 to C$7.50 in a research report on Thursday, August 1st.

Silvercorp Metals Trading Down 5.4 %

The firm has a market capitalization of C$1.02 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.03 and a beta of 1.15. The business’s fifty day moving average is C$6.09 and its 200 day moving average is C$5.35. The company has a quick ratio of 4.43, a current ratio of 4.03 and a debt-to-equity ratio of 0.21.

Silvercorp Metals Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.017 dividend. The ex-dividend date is Friday, November 29th. Silvercorp Metals’s payout ratio is 8.11%.

Insiders Place Their Bets

In other news, Director Yikang Liu sold 3,800 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of C$7.00, for a total transaction of C$26,600.00. Also, Senior Officer Derek Zhihua Liu sold 53,333 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$5.86, for a total value of C$312,531.38. Insiders sold a total of 112,893 shares of company stock valued at $639,929 in the last quarter. 3.67% of the stock is currently owned by insiders.

About Silvercorp Metals

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties. The company primarily explores for silver, gold, lead, and zinc metals. It holds interest mines located in the Henan Province, Guangdong Province, and Hunan Province in China.