Canaccord Genuity Initiates Coverage on Silvercorp Metals (NYSEAMERICAN:SVM)

Canaccord Genuity began coverage on shares of Silvercorp Metals (NYSEAMERICAN:SVM) in a research report report published on Monday, The Fly reports. The brokerage issued a hold rating and a $12.00 price objective on the stock.

A number of other research firms have also commented on SVM. BMO Capital Markets lifted their target price on shares of Silvercorp Metals from $8.25 to $10.50 and gave the stock a market perform rating in a report on Tuesday, September 1st. TheStreet lowered shares of Silvercorp Metals from a b- rating to a c rating in a research note on Tuesday, June 2nd. Pi Financial upped their target price on shares of Silvercorp Metals from $9.00 to $10.00 and gave the stock a neutral rating in a research note on Friday, August 28th. Alliance Global Partners lowered shares of Silvercorp Metals from a buy rating to a neutral rating in a research note on Monday, July 20th. Finally, Zacks Investment Research raised shares of Silvercorp Metals from a hold rating to a buy rating and set a $8.50 target price for the company in a research note on Saturday, August 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $9.10.

NYSEAMERICAN:SVM opened at $8.52 on Monday. Silvercorp Metals has a 1 year low of $1.50 and a 1 year high of $8.91.

A number of large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its position in Silvercorp Metals by 11.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 29,429 shares of the company’s stock worth $158,000 after buying an additional 3,033 shares in the last quarter. CIBC World Markets Inc. raised its holdings in shares of Silvercorp Metals by 28.2% in the 1st quarter. CIBC World Markets Inc. now owns 20,350 shares of the company’s stock valued at $67,000 after purchasing an additional 4,482 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of Silvercorp Metals by 18.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 55,155 shares of the company’s stock valued at $296,000 after purchasing an additional 8,595 shares during the period. BlackRock Inc. bought a new stake in shares of Silvercorp Metals in the 1st quarter valued at about $28,000. Finally, Fort Point Capital Partners LLC bought a new stake in shares of Silvercorp Metals in the 1st quarter valued at about $33,000.

About Silvercorp Metals

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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