Silvercorp Metals (SVM) Board Declares Stock Buyback Program https://www.dispatchtribunal.com/2017/11/16/silvercorp-metals-svm-board-declares-stock-buyback-program.html
Silvercorp Metals (NYSEAMERICAN:SVM) announced that its Board of Directors has initiated a share buyback plan, which permits the company to repurchase 10,000,000 shares on Friday, June 17th, EventVestor reports. This repurchase authorization permits the company to buy up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Silvercorp Metals (NYSEAMERICAN:SVM) opened at $2.35 on Thursday. Silvercorp Metals has a 12 month low of $2.07 and a 12 month high of $4.50.
The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, November 27th. Silvercorp Metals’s dividend payout ratio (DPR) is presently -3.28%.
SVM has been the subject of a number of analyst reports. Roth Capital initiated coverage on shares of Silvercorp Metals in a report on Tuesday, August 29th. They issued a “buy” rating and a $3.50 price objective for the company. ValuEngine raised shares of Silvercorp Metals from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. TheStreet lowered shares of Silvercorp Metals from a “b-” rating to a “c” rating in a research note on Tuesday, August 22nd. Finally, Zacks Investment Researchlowered shares of Silvercorp Metals from a “hold” rating to a “sell” rating in a research note on Tuesday.
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.