Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up to $3.71

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Shares of Silvercorp Metals Inc (NYSEAMERICAN:SVM) gapped up prior to trading on Tuesday . The stock had previously closed at $3.60, but opened at $3.71. Silvercorp Metals shares last traded at $3.82, with a volume of 2,092,175 shares trading hands.

A number of brokerages have commented on SVM. Zacks Investment Research upgraded Silvercorp Metals from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. TheStreet upgraded Silvercorp Metals from a “c+” rating to a “b-” rating in a report on Tuesday, July 16th.

Silvercorp Metals (NYSEAMERICAN:SVM) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $45.58 million during the quarter, compared to analyst estimates of $45.50 million.

Several institutional investors have recently made changes to their positions in the company. AJO LP boosted its holdings in Silvercorp Metals by 10,871.8% in the first quarter. AJO LP now owns 1,173,981 shares of the company’s stock valued at $2,994,000 after acquiring an additional 1,163,281 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Silvercorp Metals by 25.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,669,510 shares of the company’s stock worth $9,027,000 after acquiring an additional 735,100 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Silvercorp Metals during the 1st quarter worth approximately $1,537,000. JPMorgan Chase & Co. raised its holdings in shares of Silvercorp Metals by 19.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,681,313 shares of the company’s stock worth $4,220,000 after acquiring an additional 275,347 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Silvercorp Metals by 72.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 500,226 shares of the company’s stock worth $1,284,000 after acquiring an additional 210,800 shares in the last quarter.

About Silvercorp Metals (NYSEAMERICAN:SVM)

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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