Silvercorp Metals (SVM) Gets a Buy Rating from PI Financial

By Jason Carr

PI Financial analyst Chris Thompson maintained a Buy rating on Silvercorp Metals (SVMResearch Report) today and set a price target of C$6.80. The company’s shares closed last Friday at $6.65.

According to TipRanks.com, Thompson is a 5-star analyst with an average return of 38.5% and a 68.8% success rate. Thompson covers the Basic Materials sector, focusing on stocks such as Fortuna Silver Mines, Great Bear Resources, and Pan American Silver.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Silvercorp Metals with a $5.49 average price target, implying a -11.3% downside from current levels. In a report released today, Roth Capital also maintained a Buy rating on the stock with a $6.50 price target.

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The company has a one-year high of $6.24 and a one-year low of $1.50. Currently, Silvercorp Metals has an average volume of 2.39M.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SVM in relation to earlier this year.

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Silvercorp Metals, Inc. engages in the development and exploration of mineral properties. It operates through the Mining, and Administrative segments. The Mining segment comprises of the operation in Henan Luoning, Hunan, Guangdong, and other. The Administrative segment covers operation in Vancouver, and Beijing. The company was founded by Rui Feng on October 31, 1991 and is headquartered in Vancouver, Canada.