Raymond James Weighs in on Silvercorp Metals Inc.’s FY2024 Earnings (NYSEAMERICAN:SVM)

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) – Stock analysts at Raymond James upped their FY2024 earnings per share (EPS) estimates for shares of Silvercorp Metals in a report released on Monday, April 22nd. Raymond James analyst C. Stanley now anticipates that the company will post earnings of $0.19 per share for the year, up from their previous estimate of $0.17. The consensus estimate for Silvercorp Metals’ current full-year earnings is $0.20 per share.

Separately, Roth Mkm cut their target price on Silvercorp Metals from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday.

Silvercorp Metals Stock Performance

NYSEAMERICAN SVM opened at $3.31 on Thursday. The company has a market cap of $586.90 million, a PE ratio of 19.47 and a beta of 1.21. Silvercorp Metals has a fifty-two week low of $2.08 and a fifty-two week high of $3.98.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $58.51 million for the quarter, compared to the consensus estimate of $55.10 million. Silvercorp Metals had a return on equity of 6.96% and a net margin of 15.01%.

Hedge Funds Weigh In On Silvercorp Metals

A number of large investors have recently bought and sold shares of SVM. U S Global Investors Inc. boosted its holdings in Silvercorp Metals by 367.1% during the 1st quarter. U S Global Investors Inc. now owns 1,167,700 shares of the company’s stock valued at $3,807,000 after acquiring an additional 917,700 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Silvercorp Metals by 8.2% in the 4th quarter. Van ECK Associates Corp now owns 9,106,260 shares of the company’s stock worth $23,949,000 after buying an additional 693,952 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Silvercorp Metals by 5.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,089,582 shares of the company’s stock worth $9,514,000 after buying an additional 219,000 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Silvercorp Metals by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,470,766 shares of the company’s stock worth $11,697,000 after buying an additional 100,973 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Silvercorp Metals in the 4th quarter worth $260,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Silvercorp Metals Company Profile

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.