Silvercorp Metals Inc (NYSEAMERICAN:SVM) Sees Large Decline in Short Interest

Silvercorp Metals Inc (NYSEAMERICAN:SVM) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 6,490,000 shares, a decrease of 12.8% from the January 15th total of 7,440,000 shares. Currently, 3.9% of the company’s shares are short sold. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is currently 4.1 days.

Shares of Silvercorp Metals stock opened at $3.97 on Friday. Silvercorp Metals has a 52 week low of $2.00 and a 52 week high of $5.93.

Silvercorp Metals (NYSEAMERICAN:SVM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.02). The firm had revenue of $44.51 million during the quarter, compared to analyst estimates of $49.50 million.

Several hedge funds have recently bought and sold shares of the stock. Creative Planning raised its holdings in shares of Silvercorp Metals by 9.7% in the 4th quarter. Creative Planning now owns 34,958 shares of the company’s stock valued at $198,000 after buying an additional 3,100 shares during the period. ARP Americas LP raised its holdings in shares of Silvercorp Metals by 20.9% in the 3rd quarter. ARP Americas LP now owns 21,400 shares of the company’s stock valued at $83,000 after buying an additional 3,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Silvercorp Metals by 35.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,402 shares of the company’s stock valued at $60,000 after buying an additional 4,009 shares during the period. Swiss National Bank raised its holdings in shares of Silvercorp Metals by 1.4% in the 4th quarter. Swiss National Bank now owns 322,300 shares of the company’s stock valued at $1,817,000 after buying an additional 4,400 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Silvercorp Metals by 34.7% in the 4th quarter. Stifel Financial Corp now owns 23,702 shares of the company’s stock valued at $142,000 after buying an additional 6,102 shares during the period.

Several equities analysts have recently commented on SVM shares. Zacks Investment Research lowered Silvercorp Metals from a “hold” rating to a “sell” rating in a research note on Friday. Alliance Global Partners lowered Silvercorp Metals from a “buy” rating to a “neutral” rating and upped their price target for the company from $4.25 to $4.35 in a research note on Tuesday, November 12th.

Silvercorp Metals Company Profile

Silvercorp Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and mining of precious and base metal mineral properties in China. Its flagship project is the Ying silver-lead-zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd.

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