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Silvercorp Metals(SVM - Get Report) is a silver producer with properties including the Ying Mine (77.5%), HPG Property (80%), TLP Mine (77.5%), LM Mine (80%), Nabao Project (82%), GC Project (95%) and Silvertip Project (100%). The stock accumulated 20.8% during the past one month.
Of the five analysts covering the stock, 80% recommend a buy while the remaining rate a hold. There are no sell ratings on the stock. Data from
Bloomberg has analysts forecasting 2% gain to $14.8 in the upcoming 12 months.
For the latest third quarter, the company reported net profit of $29.7 million, or 18 cents per share, compared to $12.4 million, or 8 cents per share, in the year ago period. The company posted better-than-expected results on the back of soaring metal prices. Revenue jumped 65.5% to $51.8 million with silver sales growing 25% to 1.52 million ounces at an average realized price of $20.36 an ounce, up 57%.
For fiscal ending March 31, 2011, the company expects silver production from its four mines at the Ying Mining Camp to meet or exceed 5.6 million ounces. Besides, for 2012 the company has planned three projects in China, incurring capital expenditure of $67 million.