Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Silvercorp Metals Inc. (NYSEAMERICAN:SVM)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,366,682 shares of the company’s stock after purchasing an additional 115,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Silvercorp Metals were worth $23,369,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SVM. Van ECK Associates Corp lifted its position in shares of Silvercorp Metals by 153.8% during the 3rd quarter. Van ECK Associates Corp now owns 22,110,781 shares of the company’s stock worth $105,689,000 after purchasing an additional 13,399,851 shares during the last quarter. Tidal Investments LLC acquired a new stake in Silvercorp Metals in the first quarter valued at $17,619,000. Renaissance Technologies LLC lifted its holdings in Silvercorp Metals by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,636,096 shares of the company’s stock worth $15,577,000 after buying an additional 110,200 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Silvercorp Metals by 1,218.7% during the 2nd quarter. Acadian Asset Management LLC now owns 1,354,921 shares of the company’s stock worth $4,520,000 after acquiring an additional 1,252,174 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Silvercorp Metals by 0.8% in the 2nd quarter. American Century Companies Inc. now owns 1,125,635 shares of the company’s stock valued at $3,768,000 after acquiring an additional 9,300 shares during the last quarter. Institutional investors and hedge funds own 22.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Mkm decreased their target price on Silvercorp Metals from $6.00 to $5.10 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Silvercorp Metals Stock Down 12.1 %

Shares of Silvercorp Metals stock opened at $3.56 on Thursday. The firm has a market capitalization of $774.51 million, a PE ratio of 13.97 and a beta of 1.33. Silvercorp Metals Inc. has a 12-month low of $2.22 and a 12-month high of $5.32.

Silvercorp Metals (NYSEAMERICAN:SVM) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Silvercorp Metals had a net margin of 23.07% and a return on equity of 8.12%. The company had revenue of $68.00 million during the quarter, compared to the consensus estimate of $67.90 million. As a group, research analysts expect that Silvercorp Metals Inc. will post 0.34 earnings per share for the current year.

Silvercorp Metals Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.0125 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a yield of 0.6%. Silvercorp Metals’s dividend payout ratio is presently 10.00%.

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.