Shares of Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) were priced at $3.56 midway through the noon hour on August 2 – down 1.66%. The stock has fallen 12% since early May as the silver price has continued to experience volatility in the midst of central bank tightening and a declining U.S. dollar. Silvercorp Metals is a Canadian based precious metals company focused in China. It is China’s largest primary silver producer.
Silvercorp Metals is set to announce its quarterly earnings on Thursday, August 3. The company recently declared a semi-annual dividend that was paid on Friday, June 30. Investors were issued a dividend of $0.01 per share – representing a 0.56% yield. In its last quarterly earnings Silvercorp reported a revenue increase of 23%.
The stock price has risen 13% in 2017. It rose to a 52 week high of $5.90 in late February in spite of prices for precious metals experiencing volatility since mid-2016. However, recent downgrades for U.S. growth from the International Monetary Fund, and a U.S. dollar which has been in a prolonged slump since January, may make investors take a second look at safe havens.
Silvercorp Metals boasts a small dividend and a low price for a fully producing silver mine. Investors who are betting on silver to benefit from uncertainty in the second half of 2017 should look at Silvercorp as a rock solid option to add to their portfolios.
Related Stories
