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Silvercorp Metals (TSE:SVM)
:SVM
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Silvercorp Metals (SVM) AI Stock Analysis

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TSE:SVM

Silvercorp Metals

(NYSE MKT:SVM)

Rating:78Outperform
Price Target:
C$7.50
▲(15.74%Upside)
Silvercorp Metals benefits from strong financial performance and positive corporate events, which significantly support the stock score. Technical analysis shows moderate strength, while valuation is fair. These factors collectively contribute to a robust overall stock score.
Positive Factors
Financial performance
Silvercorp reported record quarterly revenue of $83.6M, which exceeded expectations.
Financial stability
Cash flow from operating activities increased significantly, facilitating financial stability and growth opportunities.
Operational efficiency
Production costs were below forecast, boosting profitability and operational efficiency.
Negative Factors
Production results
Silvercorp's FYQ1 silver production was 1.83Moz, falling short of the 2.06Moz estimate.
Revenue forecast
Silvercorp's revenue of $81.3M was below the $93.7M estimate.
Silver grades
Lower-than-forecast grades at Ying resulted in silver production of 1.70Moz, below the 1.90Moz estimate.

Silvercorp Metals (SVM) vs. iShares MSCI Canada ETF (EWC)

Silvercorp Metals Business Overview & Revenue Model

Company DescriptionSilvercorp Metals Inc. is a Canadian mining company engaged in the acquisition, exploration, development, and mining of mineral properties. Headquartered in Vancouver, British Columbia, Silvercorp primarily focuses on silver, along with lead and zinc production. Its core operations are situated in the Ying Mining District in the Henan Province of China, where it operates multiple silver-lead-zinc mines. The company is committed to responsible mining practices, emphasizing safety, environmental sustainability, and community engagement.
How the Company Makes MoneySilvercorp Metals generates revenue primarily through the extraction and sale of silver, lead, and zinc concentrates. The company's primary revenue streams come from its operating mines in China, where it processes ore to extract these valuable metals. Once extracted, the concentrates are sold to smelters and other purchasers who further refine the metals for various industrial uses. Silvercorp's earnings are influenced by factors such as global commodity prices, operational efficiency, and production volumes. The company may also engage in strategic partnerships or joint ventures that can enhance its production capabilities and market reach.

Silvercorp Metals Earnings Call Summary

Earnings Call Date:May 22, 2025
(Q3-2025)
|
% Change Since: 20.13%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong financial and operational performance, including record revenue and production, driven by strategic expansions and favorable commodity prices. Although there were some increased costs and a decrease in zinc production, these were outweighed by the significant accomplishments and positive outlook for future growth.
Q3-2025 Updates
Positive Updates
Record-Breaking Revenue and Growth
Fiscal Q3 was the strongest quarter ever with record revenue of $84 million, up 43% from the previous year, and record operating cash flow of $45 million, up 90%.
Increased Production and Mill Expansion
Record silver production of 1.9 million ounces, up 16%, with the Ying Mine completing a mill expansion in December, increasing capacity from 2,500 tons to 4,000 tons per day.
Commodity Price Surge
Realized gold and silver prices rose by 35%, zinc by 49%, and lead by 8%, contributing to increased revenue and net income.
Strong Cash Position
Ended 2024 with a healthy cash balance of $355 million, including $143 million from convertible notes.
Operational Success and Future Outlook
Secured necessary permits for the Kuanping project, mobilized contractors at El Domo, and positioned for sustained production growth.
Negative Updates
Decreased Zinc Production and Sales
Zinc production decreased by 10% due to lower head grades, and zinc sold decreased by 10% year-over-year.
Increase in Costs
Production costs averaged $78 per ton, up 5% year-over-year, and all-in sustaining production cost increased by 10% to $150 per ton.
One-time Government Payment
A one-time $12 million government payment related to the renewal of the SGX mine license impacted finances.
Company Guidance
In Silvercorp's third quarter fiscal 2025 call, the company reported record revenue of $84 million, a 43% increase from the same period last year, complemented by a 90% rise in operating cash flow to $45 million. Silver production reached a record 1.9 million ounces, up 16%, primarily driven by the Ying Mine's mill expansion. Improved commodity prices also contributed, with silver accounting for 63% of net realized Q3 revenue. Zinc sales fell by 10% due to lower head grades, although gold and lead sales increased by 53% and 5%, respectively. Net income more than doubled to $26 million or $0.12 per share, with adjusted net income at $22 million or $0.10 per share. The company invested $25 million in mine development and repaid $13.25 million to Wheaton Precious Metals. Silvercorp aims to achieve 6.7 to 7.2 million ounces of silver production for fiscal 2025, with production costs averaging $78 per ton, while maintaining an all-in sustaining cost per ounce of silver net of byproduct credits at 12.75%. The company also highlighted progress on growth projects, including the El Domo Copper Gold project in Ecuador, and plans to provide fiscal 2026 capital budget guidance in April.

Silvercorp Metals Financial Statement Overview

Summary
Silvercorp Metals has strong financial performance with notable revenue growth, robust profitability metrics, and effective financial management. The company maintains a strong balance sheet with low leverage and effective cash flow generation.
Income Statement
82
Very Positive
Silvercorp Metals has demonstrated strong revenue growth, with the most recent annual data showing a 38.93% increase from the previous year. This is accompanied by solid profitability metrics, including a Gross Profit Margin of 41.33% and a Net Profit Margin of 19.46%, indicating efficient cost management. The EBIT and EBITDA margins are also robust at 34.51% and 47.76%, respectively, showcasing strong operational performance. However, slight variability in profit margins over the years suggests some exposure to market fluctuations.
Balance Sheet
78
Positive
The company maintains a strong equity position, with a Debt-to-Equity Ratio of 0.16, indicating low leverage and prudent financial management. The Return on Equity stands at a healthy 8.28%, reflecting effective use of equity financing. The Equity Ratio of 61.68% further underscores the company's solid financial structure. While these metrics portray stability, the slight increase in liabilities over time should be monitored to maintain this strength.
Cash Flow
85
Very Positive
Silvercorp Metals exhibits excellent cash flow performance, with a significant Free Cash Flow growth rate of 87.21% year-over-year. The Operating Cash Flow to Net Income Ratio is 2.38, suggesting strong cash generation relative to earnings. The Free Cash Flow to Net Income Ratio of 0.90 indicates efficient capital expenditure management. While these metrics reflect strong liquidity and cash management, maintaining consistent free cash flow growth will be key to sustaining this performance.
BreakdownMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue298.89M215.19M208.13M217.92M192.10M
Gross Profit123.55M125.81M70.78M84.30M84.16M
EBITDA142.76M99.14M64.80M98.04M97.07M
Net Income58.19M36.31M20.61M30.63M46.38M
Balance Sheet
Total Assets1.14B702.82M676.80M723.54M652.64M
Cash, Cash Equivalents and Short-Term Investments369.06M184.89M203.32M212.93M199.09M
Total Debt111.98M1.31M583.00K1.26M1.74M
Total Liabilities305.55M105.81M96.97M103.42M86.91M
Stockholders Equity702.73M507.25M489.05M512.40M467.57M
Cash Flow
Free Cash Flow52.60M28.10M30.69M40.17M33.71M
Operating Cash Flow138.63M91.57M85.64M107.38M85.91M
Investing Cash Flow-44.67M-65.71M-26.52M-106.63M-40.97M
Financing Cash Flow115.12M-16.80M-17.98M-7.43M-1.45M

Silvercorp Metals Technical Analysis

Technical Analysis Sentiment
Positive
Last Price6.48
Price Trends
50DMA
5.87
Positive
100DMA
5.61
Positive
200DMA
5.36
Positive
Market Momentum
MACD
0.18
Positive
RSI
57.37
Neutral
STOCH
34.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SVM, the sentiment is Positive. The current price of 6.48 is above the 20-day moving average (MA) of 6.34, above the 50-day MA of 5.87, and above the 200-day MA of 5.36, indicating a bullish trend. The MACD of 0.18 indicates Positive momentum. The RSI at 57.37 is Neutral, neither overbought nor oversold. The STOCH value of 34.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SVM.

Silvercorp Metals Peers Comparison

Overall Rating
UnderperformOutperform
Sector (44)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
C$1.43B16.569.62%0.09%43.39%46.62%
69
Neutral
C$508.87M8.0832.65%30.08%-67.68%
57
Neutral
C$3.06B23.9516.27%0.07%61.66%
56
Neutral
C$1.99B152.08-4.59%88.60%-684.16%
48
Neutral
$2.90B-24.80%-26.88%
44
Neutral
C$992.55M-6.64-13.73%1.83%17.55%-32.57%
42
Neutral
C$472.73M-21.78%31.39%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:SVM
Silvercorp Metals
6.57
1.54
30.72%
TSE:MAG
MAG Silver
29.62
12.09
69.00%
TSE:DSV
Discovery Silver
3.45
2.58
294.29%
TSE:DV
Dolly Varden Silver
5.46
1.10
25.23%
TSE:AYA
Aya Gold & Silver
14.04
-0.33
-2.30%
TSE:SCZ
Santacruz Silver Mining
1.40
1.05
300.00%

Silvercorp Metals Corporate Events

Business Operations and StrategyFinancial Disclosures
Silvercorp Reports Strong Q1 Fiscal 2026 Results with Increased Revenue and Production
Positive
Jul 15, 2025

Silvercorp Metals Inc. reported strong operational results for the first quarter of fiscal 2026, with a 13% increase in revenue to approximately $81.3 million compared to the same period last year. The company achieved a 6% rise in silver production to 1.8 million ounces and a 79% increase in gold production. However, zinc production saw a decline of 19%. The ongoing exploration and development activities at the Ying Mining District and GC Mine, along with the construction progress at the El Domo and Kuanping mines, indicate Silvercorp’s strategic focus on growth and expansion. These results underscore Silvercorp’s robust operational performance and its potential for future growth, which could positively impact its market positioning and stakeholder value.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Silvercorp Updates Mineral Resource Estimate for Condor Project
Neutral
Jun 12, 2025

Silvercorp Metals Inc. has filed an updated mineral resource estimate for its Condor gold project in Ecuador, prepared by SRK Consulting. This filing, done voluntarily, indicates that the Condor Project is not currently a material property for the company, suggesting limited immediate impact on its operations. However, it reflects Silvercorp’s ongoing efforts to maintain transparency and compliance with industry standards.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Financial DisclosuresRegulatory Filings and Compliance
Silvercorp Metals Files Fiscal 2025 Annual Report
Positive
Jun 5, 2025

Silvercorp Metals Inc. has filed its fiscal 2025 annual report on Form 40-F with the U.S. Securities and Exchange Commission. This filing, which includes audited financial statements and management’s discussion, is accessible on both the company’s and the SEC’s websites. This move underscores Silvercorp’s transparency and commitment to keeping stakeholders informed, potentially impacting its market positioning by reinforcing investor confidence.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$5.10 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

DividendsBusiness Operations and Strategy
Silvercorp Declares Semi-Annual Dividend Amidst Strategic Growth Focus
Positive
May 26, 2025

Silvercorp Metals Inc. has announced a semi-annual dividend of US$0.0125 per share, payable to shareholders of record by June 6, 2025, with payment by June 26, 2025. This dividend declaration reflects the company’s ongoing commitment to returning value to shareholders, although future dividends will depend on various factors such as commodity prices and market conditions.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Silvercorp Metals Reports Strong Fiscal 2025 Results and Strategic Expansion
Positive
May 22, 2025

Silvercorp Metals Inc. reported a strong fiscal year 2025, with an adjusted net income of $75.1 million and cash flow from operations reaching $138.6 million. Despite a loss attributable to equity shareholders in Q4, the company achieved significant revenue growth and operational efficiency, highlighted by a 76% increase in quarterly revenue and a 101% rise in mine operating earnings. The acquisition of Adventus Mining Corporation and investments in projects like El Domo and Condor demonstrate Silvercorp’s strategic expansion efforts. The company also strengthened its financial position with increased cash reserves and a stream financing credit for future project development.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
Silvercorp Updates Mineral Resource Estimate for Ecuador’s Condor Project
Positive
May 12, 2025

Silvercorp Metals has announced an updated mineral resource estimate for its Condor Project in Ecuador, highlighting a shift towards higher-grade underground mining. The updated estimate, prepared by SRK Consulting, reveals significant indicated and inferred underground resources at the Camp and Los Cuyes deposits, with favorable metallurgical test results indicating high gold recoveries. This update is expected to enhance Silvercorp’s operational efficiency and strengthen its position in the mining industry.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 17, 2025