BMO Capital analyst Kevin O’Halloran has maintained their bullish stance on SVM stock, giving a Buy rating on July 1.
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Kevin O’Halloran has given his Buy rating due to a combination of factors, despite Silvercorp Metals’ recent production figures falling short of expectations. The company’s silver production and revenue were below forecasts, primarily due to lower grades at the Ying mine. However, the throughput at Ying slightly exceeded expectations, indicating operational efficiency improvements following the mill expansion.
In addition, Silvercorp is making significant progress on its construction projects, such as El Domo and Kuanping, which are expected to enhance future production capabilities. The company’s strong balance sheet and history of maintaining solid margins further support the positive outlook. These factors suggest potential for operational optimization and a re-rating opportunity, justifying the Buy recommendation.
According to TipRanks, O’Halloran is a top 100 analyst with an average return of 40.5% and an 89.47% success rate. O’Halloran covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, Silvercorp Metals, and Aya Gold & Silver.
In another report released on July 1, Roth MKM also maintained a Buy rating on the stock with a $6.75 price target.