2. Silvercorp Metals (SVM) engages in the acquisition, exploration, development and mining of high-grade, silver-related mineral properties in China and Canada. The company operates four silver-lead-zinc mines at the Ying Mining Camp in China's Henan Province. The stock gained 14.8% last week.
Of the five analysts covering the stock, 80% recommend a buy on it. Analysts polled by Bloomberg expect the stock to gain an average 46.7% to $15.79 in the upcoming 12 months.
Last week, the company reported the results of three technical reports updating the resources and reserves at its SGX, HPG and TLP-LM silver-lead-zinc mines in the Ying Mining District in Henan Province, China. The combined proven and probable reserves in the three mines are 58 million ounces of silver, 309,338 tons of lead, and 86,920 tons of zinc, and 16,885 ounces of gold in 6.6 million tons of ore.Commenting on the reserve update, BMO Capital Markets said that there is potential for further resource upgrades with exploration. Also, it has raised its price target on the stock to $19.29 from $19.18. Separately, the company has updated resources at its Silvertip silver-lead-zinc project in British Columbia, Canada. This 2011 resource update, which is based on 10,913 meters in 36 diamond drill holes completed in fall 2010, estimates 4.17 million tons grading 261 g/t silver (Ag), 4.87% lead (Pb), and 8.50% zinc (Zn), containing in situ 35 million ounces of silver, 203,050 tons of lead, and 354,327 tons of zinc.
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