Connor Clark & Lunn Investment Management Ltd. Invests $39.72 Million in Silvercorp Metals Inc. $SVM

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor purchased 3,930,238 shares of the company’s stock, valued at approximately $39,719,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. U S Global Investors Inc. grew its stake in shares of Silvercorp Metals by 147.1% during the first quarter. U S Global Investors Inc. now owns 617,663 shares of the company’s stock worth $6,634,000 after buying an additional 367,663 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Silvercorp Metals by 14.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,812,396 shares of the company’s stock valued at $30,205,000 after acquiring an additional 348,000 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Silvercorp Metals by 349.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 146,793 shares of the company’s stock valued at $1,229,000 after acquiring an additional 114,128 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Silvercorp Metals during the 4th quarter valued at $1,687,000. Finally, Auxano Advisors LLC acquired a new stake in shares of Silvercorp Metals during the 4th quarter valued at $2,335,000. 22.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SVM shares. Roth Capital reaffirmed a “buy” rating and issued a $14.00 target price (up from $13.50) on shares of Silvercorp Metals in a report on Wednesday, August 12th. Jefferies Financial Group upgraded Silvercorp Metals to a “buy” rating in a report on Monday, June 15th. Finally, Zacks Research downgraded Silvercorp Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Read Our Latest Report on Silvercorp Metals

Silvercorp Metals Stock Performance

NYSEAMERICAN SVM opened at $12.65 on Tuesday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 105.43 and a beta of 1.15. The company has a quick ratio of 3.46, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. Silvercorp Metals Inc. has a twelve month low of $4.50 and a twelve month high of $15.77. The stock has a fifty day simple moving average of $10.56 and a 200 day simple moving average of $11.35.

Silvercorp Metals (NYSEAMERICAN:SVM – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $138.67 million for the quarter, compared to analyst estimates of $138.70 million. Silvercorp Metals had a return on equity of 18.34% and a net margin of 6.32%.During the same quarter in the previous year, the company posted $0.08 EPS. Sell-side analysts expect that Silvercorp Metals Inc. will post 0.66 EPS for the current year.

Silvercorp Metals Company Profile

(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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