Silvercorp Metals Inc (NYSE:SVM) was the recipient of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 258,341 shares, a drop of 33.2% from the July 31st total of 386,943 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 216,359 shares, the days-to-cover ratio is presently 1.2 days.
Several institutional investors have recently made changes to their positions in the stock. Virtu KCG Holdings LLC bought a new position in shares of Silvercorp Metals during the second quarter valued at $125,000. Cubist Systematic Strategies LLC bought a new position in shares of Silvercorp Metals during the second quarter valued at $141,000. BlueCrest Capital Management Ltd bought a new position in shares of Silvercorp Metals during the second quarter valued at $142,000. ARP Americas LLC bought a new position in shares of Silvercorp Metals during the second quarter valued at $147,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Silvercorp Metals during the second quarter valued at $158,000.
Separately, TheStreet raised Silvercorp Metals from a “d” rating to a “b-” rating in a research report on Monday, May 15th.
Silvercorp Metals (NYSE:SVM) opened at 2.78 on Friday. The company has a 50-day moving average price of $2.81 and a 200 day moving average price of $2.91. Silvercorp Metals has a 12 month low of $2.07 and a 12 month high of $4.50. The company has a market capitalization of $466.74 million and a PE ratio of 9.93.
About Silvercorp Metals
Silvercorp Metals Inc (Silvercorp) is a silver-producing Canadian mining company. The Company is engaged in the acquisition, exploration, development, and mining of silver-related mineral properties in China. The Company’s segments include Mining, including projects, such as Henan Luoning, Hunan, Guangdong and Other, and Administrative, which includes Beijing and Vancouver.
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