BMO Capital Markets Updates Price Target for Silvercorp Metals

Silvercorp Metals (TSE:SVM) saw its price target raised by analysts at BMO Capital Markets from C$7.00 to C$7.50, as reported in a recent research note issued on Tuesday. This new price target suggests a potential upside of about 9.01% compared to the company’s previous closing price.

Other financial institutions have also made similar adjustments to their price targets for Silvercorp Metals. Notably, Raymond James adjusted their target from C$7.00 to C$7.50 on August 1st. Earlier, on July 11th, Eight Capital increased their target price from C$6.20 to C$7.00.

Market Performance of Silvercorp Metals

On Tuesday, shares of Silvercorp Metals traded up by 1.3%, gaining C$0.09 and reaching a price of C$6.88 during midday trading. A total of 252,544 shares exchanged hands, which is lower than the average trading volume of 408,589 shares. Silvercorp Metals has shown stability with a debt-to-equity ratio of 0.21, a quick ratio of 4.43, and a current ratio of 4.03. The stock has traded within a 52-week range, hitting a low of C$2.88 and a high of C$7.34. Its fifty-day simple moving average stands at C$5.78, while the two-hundred-day moving average is C$5.21. The company is valued at a market cap of C$1.49 billion and has a price-to-earnings (P/E) ratio of 18.62, with a P/E to growth (P/E/G) ratio of 0.03 and a beta of 1.15.

Silvercorp Metals reported its latest quarterly earnings on August 13th, where it outperformed expectations with earnings per share (EPS) of C$0.16, exceeding the consensus estimate of C$0.12 by C$0.04. Additionally, the company achieved a return on equity of 10.92% and maintained a net margin of 21.57%. Revenue for the quarter was C$98.74 million, slightly higher than the expected C$98.53 million. Overall, analysts anticipate that Silvercorp Metals will achieve approximately 0.54 earnings per share in the current fiscal year.

Insider Transactions at Silvercorp Metals

In related news, senior officer Derek Zhihua Liu sold 52,500 shares of the company’s stock on August 29th for an average price of C$5.32, amounting to a total transaction of C$279,247.50. Furthermore, director Yikang Liu sold 3,800 shares at an average price of C$7.00 on October 18th, yielding a total of C$26,600. Over the last 90 days, insiders have sold a total of 112,893 shares valued at C$639,929. Currently, insiders own about 3.67% of the company’s shares.

Company Overview

Silvercorp Metals Inc. focuses on the acquisition, exploration, development, and mining of mineral properties, primarily focusing on silver, gold, lead, and zinc. The company has interests in mines located in China, particularly in the Henan, Guangdong, and Hunan provinces.

Silvercorp, Stocks, Analysts