Silvercorp Metals (NYSEAMERICAN:SVM) Shares Gap Up – Time to Buy?

Silvercorp Metals Inc. (NYSEAMERICAN:SVM)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $3.97, but opened at $4.06. Silvercorp Metals shares last traded at $4.06, with a volume of 432,707 shares changing hands.

Silvercorp Metals Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.35 and a current ratio of 4.61. The stock’s 50 day moving average price is $3.49. The company has a market capitalization of $893.74 million, a PE ratio of 11.38 and a beta of 1.20.

Hedge Funds Weigh In On Silvercorp Metals

Several hedge funds have recently bought and sold shares of the business. Tidal Investments LLC increased its position in Silvercorp Metals by 17.8% in the 4th quarter. Tidal Investments LLC now owns 7,556,081 shares of the company’s stock worth $22,668,000 after buying an additional 1,143,210 shares during the period. Renaissance Technologies LLC increased its position in Silvercorp Metals by 21.6% during the fourth quarter. Renaissance Technologies LLC now owns 5,778,796 shares of the company’s stock worth $17,336,000 after acquiring an additional 1,025,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Silvercorp Metals by 5.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,921,616 shares of the company’s stock valued at $14,783,000 after purchasing an additional 261,669 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Silvercorp Metals by 37.4% in the 4th quarter. Two Sigma Investments LP now owns 2,444,427 shares of the company’s stock valued at $7,333,000 after purchasing an additional 664,806 shares during the period. Finally, Millennium Management LLC grew its position in Silvercorp Metals by 40.0% in the 4th quarter. Millennium Management LLC now owns 1,948,174 shares of the company’s stock worth $5,850,000 after purchasing an additional 556,594 shares during the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

Silvercorp Metals Company Profile

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.