Citigroup Inc. Grows Stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM)

Citigroup Inc. increased its stake in Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 8,416.5% in the 1st quarter, HoldingsChannel reports. The fund owned 3,573,536 shares of the company’s stock after acquiring an additional 3,531,576 shares during the period. Citigroup Inc.’s holdings in Silvercorp Metals were worth $13,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SVM. LPL Financial LLC boosted its position in shares of Silvercorp Metals by 23.7% during the fourth quarter. LPL Financial LLC now owns 115,251 shares of the company’s stock valued at $346,000 after buying an additional 22,079 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Silvercorp Metals by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 670,916 shares of the company’s stock valued at $2,013,000 after buying an additional 52,901 shares during the period. Geode Capital Management LLC boosted its position in shares of Silvercorp Metals by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 104,899 shares of the company’s stock valued at $315,000 after buying an additional 4,104 shares during the period. Legal & General Group Plc boosted its position in shares of Silvercorp Metals by 3.0% during the fourth quarter. Legal & General Group Plc now owns 195,613 shares of the company’s stock valued at $588,000 after buying an additional 5,765 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Silvercorp Metals during the fourth quarter valued at approximately $103,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Silvercorp Metals Stock Performance

Silvercorp Metals stock opened at $4.56 on Friday. The company has a 50 day moving average price of $4.51 and a 200-day moving average price of $3.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.95 and a current ratio of 4.61. Silvercorp Metals Inc. has a fifty-two week low of $2.87 and a fifty-two week high of $5.32. The company has a market capitalization of $996.54 million, a PE ratio of 17.54 and a beta of 0.92.

Silvercorp Metals Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, June 26th. Stockholders of record on Friday, June 6th were paid a dividend of $0.0125 per share. This represents a dividend yield of 60.0%. The ex-dividend date of this dividend was Friday, June 6th. Silvercorp Metals’s payout ratio is currently 8.33%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SVM. Raymond James Financial restated an “outperform” rating on shares of Silvercorp Metals in a research report on Thursday, August 7th. Roth Capital restated a “buy” rating and set a $6.75 target price (up previously from $6.25) on shares of Silvercorp Metals in a research report on Tuesday, July 1st.

About Silvercorp Metals

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.