Silvercorp Metals Inc. (TSE:SVM) saw a surge in its stock price as it crossed above its 50-day moving average during trading on Friday. The stock, which has a 50-day moving average of C$5.04, reached a high of C$5.19 before settling at C$5.11, with a trading volume of 208,191 shares.
Analysts have been closely monitoring Silvercorp Metals, with several recent research reports impacting the stock. BMO Capital Markets raised their target price from C$5.00 to C$6.00, while Canaccord Genuity Group and Raymond James both adjusted their price objectives. Eight Capital also revised their price target on the stock, reflecting positive sentiment among analysts.
Silvercorp Metals is currently trading up 1.0% and boasts a market capitalization of C$903.55 million. With a price-to-earnings ratio of 22.22, a low PEG ratio of 0.03, and a beta of 1.02, the company has been attracting investor attention. Additionally, Silvercorp Metals recently announced its quarterly earnings results, meeting the consensus EPS estimate of C$0.03.
In other news, insiders at Silvercorp Metals have been actively trading stocks, with Senior Officer Derek Zhihua Liu and Director Yikang Liu both selling shares recently. This has led to increased speculation about the company’s future performance and direction.
Overall, Silvercorp Metals continues to be a key player in the mining industry, with a strong focus on silver, gold, lead, and zinc metals. As the company moves forward, investors and analysts will be closely watching for any further developments that could impact its stock performance.
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