Silvercorp Metals Inc [AMEX: SVM] jumped around 0.06 points on Thursday, while shares priced at $2.73 at the close of the session, up 2.25%. The company report on March 1, 2024 at 12:45 PM that Silvercorp Provides OreCorp Offer Update.
Trading Symbol: TSX: SVM NYSE AMERICAN: SVM.
Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX: SVM) (NYSE American: SVM) today announced that its off-market takeover bid for all of the ordinary shares in OreCorp Limited (“OreCorp”) (ASX:ORR) that it does not already own (“Silvercorp Offer”) will now close at 7:00pm (Sydney time) on March 22, 2024, unless further extended or withdrawn in accordance with the Corporations Act 2001 (Cth) (“Corporations Act”). The Silvercorp Offer is contained in the replacement bidder’s statement issued by Silvercorp and dated January 16, 2024 (as supplemented on February 2, 2024) (“Bidder’s Statement”).
Compared to the average trading volume of 1.35M shares, SVM reached a trading volume of 2630436 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Silvercorp Metals Inc [SVM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SVM shares is $4.49 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SVM stock is a recommendation set at 1.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Silvercorp Metals Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 31, 2023. The new note on the price target was released on July 20, 2020, representing the official price target for Silvercorp Metals Inc stock. Previously, the target price had yet another raise to $4.50, while Alliance Global Partners analysts kept a Buy rating on SVM stock. On November 12, 2019, analysts increased their price target for SVM shares from 4.25 to 4.35.
The Average True Range (ATR) for Silvercorp Metals Inc is set at 0.11, with the Price to Sales ratio for SVM stock in the period of the last 12 months amounting to 2.34. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 1.12. Price to Free Cash Flow for SVM in the course of the last twelve months was 15.99 with Quick ratio for the last quarter at 3.53.
How has SVM stock performed recently?
Silvercorp Metals Inc [SVM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.28. With this latest performance, SVM shares gained by 19.21% in over the last four-week period, additionally plugging by 11.43% over the last 6 months – not to mention a drop of -10.78% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SVM stock in for the last two-week period is set at 67.75, with the RSI for the last a single of trading hit 74.87, and the three-weeks RSI is set at 62.71 for Silvercorp Metals Inc [SVM]. The present Moving Average for the last 50 days of trading for this stock 2.44, while it was recorded at 2.64 for the last single week of trading, and 2.60 for the last 200 days.
Silvercorp Metals Inc [SVM]: Deeper insight into the fundamentals
Silvercorp Metals Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.53 and a Current Ratio set at 3.73.
Earnings analysis for Silvercorp Metals Inc [SVM]
With the latest financial reports released by the company, Silvercorp Metals Inc posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SVM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Silvercorp Metals Inc go to 5.00%.
Insider trade positions for Silvercorp Metals Inc [SVM]
The top three institutional holders of SVM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SVM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SVM stock with ownership which is approximately 5.8325%.
