Roth Capital analyst Joe Reagor raised the firm’s price target on Silvercorp Metals (SVM) to $11.50 from $10.50 and keeps a Neutral rating on the shares. The company announced it had entered an agreement to acquire a 70% interest in the Tulkubash and Kyzyltash gold projects in Kyrgyzstan for total consideration of $162M, and the firm says this was an incremental positive for Silvercorp as it adds significant growth potential to the company’s portfolio, the analyst tells investors in a research note.
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Read More on SVM:
- ‘Silver Price Rally Won’t Last,’ Warns Analyst, Calling for a Downgrade
- Silvercorp Buys Majority Stake in Major Kyrgyz Gold Projects in US$162 Million Deal
- Silvercorp Metals acquires 70% interest in Kyrgyzstan gold projects for $162M
- Silvercorp Metals downgraded to Neutral from Buy at Roth Capital
- Silvercorp Metals price target raised to C$17.50 from C$13 at BMO Capital