Silvercorp Metals (SVM) AI Stock Analysis

• Market Cap: C$3.82B
• Dividend Yield: 0.29%
• Average Volume (3M): 1.29M
• Price to Earnings (P/E): 108.2
• Beta (1Y): 2.35
• Revenue Growth: 37.50%
• EPS Growth: -60.92%
• Country: CA
• Employees: 1,207
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Silver
• EPS (TTM): -0.07
• Shares Outstanding: 220,311,280
• 10 Day Avg. Volume: 1,557,015
• 30 Day Avg. Volume: 1,286,943
• PEG Ratio: 0.35
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 2.63
• P/FCF Ratio: 14.96
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$17.63
• Price Target Upside: 28.59% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: C$19.00 ▲(38.58% Upside)

The score is driven primarily by strong financial health (low leverage, solid margins, improving cash generation) and clear bullish price trend. It is tempered by expensive valuation (very high P/E with low yield) and a mixed earnings update, where strong revenue/cash flow and liquidity were offset by cost inflation, production disruptions, and a reported net loss from noncash charges.

Positive Factors

High operating margins

Sustained gross and EBIT margins indicate structural operational efficiency and strong cost control across mines. High margins provide a durable buffer against metal price swings, support reinvestment and project funding, and underpin long-term free cash flow generation.

Conservative leverage

Very low leverage and a strong equity ratio offer balance sheet flexibility to fund development, weather commodity cycles, and access capital without excessive refinancing risk. This conservatism supports long-term resilience against operational setbacks.

Improving cash generation and production

Sharp FCF and operating cash growth, coupled with meaningful increases in gold output, strengthen internal funding for projects like El Domo and reduce reliance on external financing. Consistent cash generation enhances capital allocation over the medium term.

Negative Factors

Reported net loss from noncash charge

A large noncash derivative charge produced a reported loss, highlighting earnings volatility from complex financial instruments. Such accounting-driven swings can obscure operating performance and introduce unpredictability into reported profits and stakeholder assessments.

Rising unit costs

Material increases in cash cost and AISC pressure long-term margin sustainability, requiring sustained higher metal prices or further cost reductions. Persistent input inflation or tougher ore grades could structurally compress margins and reduce free cash conversion.

Production declines and interruptions

Declining zinc output plus weather and mine-area closures reveal operational susceptibility to disruptions and resource variability. Repeated interruptions or declining by-product volumes can erode diversified revenue streams and increase per-unit costs over time.

Silvercorp Metals Business Overview & Revenue Model

Company Description

Silvercorp Metals Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China and Mexico. The company primarily explores for silver, gold, lead, and zinc metals. It holds interests in the Ying project located in the Ying Mining District in Henan Province, China; Gaocheng (GC) mine located in Guangdong Province, China; Kuanping project located in Sanmenxia City, Shanzhou District, Henan Province, China; and La Yesca project located in northwest of Guadalajara, Mexico. The company was formerly known as SKN Resources Ltd. and changed its name to Silvercorp Metals Inc. in May 2005. Silvercorp Metals Inc. is headquartered in Vancouver, Canada.

How the Company Makes Money

Silvercorp Metals generates revenue primarily through the extraction and sale of silver and other metals from its mining operations. The company operates several mines in China, where it produces silver, lead, and zinc. The revenue model is heavily dependent on the market prices of these metals, with fluctuations affecting earnings. Key revenue streams include the sale of silver concentrate and by-products, such as lead and zinc, to various customers, including smelters and trading companies. Additionally, Silvercorp has established partnerships with local entities and stakeholders, which can enhance its operational efficiency and access to resources. The company also focuses on cost management and operational optimization to improve profit margins amid changing market conditions.

Silvercorp Metals Financial Statement Overview

Summary

Solid overall fundamentals: consistent TTM revenue growth (4.68%) and strong operating efficiency (45.07% gross margin; 34.14% EBIT margin). Balance sheet strength (0.15 debt-to-equity; 58.57% equity ratio) supports resilience, while cash flow improved sharply (71.08% FCF growth) but net margin pressure and a lower FCF-to-net income ratio temper the score.

Income Statement

Silvercorp Metals shows a solid income statement with a consistent revenue growth rate of 4.68% in the TTM, indicating positive momentum. The gross profit margin of 45.07% and EBIT margin of 34.14% reflect strong operational efficiency. However, the net profit margin has slightly decreased from the previous year, suggesting some pressure on net earnings.

Balance Sheet

The balance sheet is robust with a low debt-to-equity ratio of 0.15, indicating conservative leverage. The return on equity of 7.65% in the TTM is stable, though slightly lower than the previous year. The equity ratio remains strong at 58.57%, showcasing a solid capital structure.

Cash Flow

Cash flow analysis reveals a significant free cash flow growth rate of 71.08% in the TTM, highlighting improved cash generation. The operating cash flow to net income ratio of 1.67 indicates healthy cash flow relative to earnings. However, the free cash flow to net income ratio has decreased, suggesting potential reinvestment or capital expenditure needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	322.47M	298.89M	215.19M	208.13M	217.92M	192.10M
Gross Profit	176.91M	123.55M	125.81M	70.78M	128.47M	84.16M
EBITDA	118.37M	142.76M	99.14M	64.80M	95.21M	97.07M
Net Income	25.28M	58.19M	36.31M	20.61M	30.63M	46.38M
Balance Sheet
Total Assets	1.23B	1.14B	702.82M	676.80M	723.54M	652.64M
Cash, Cash Equivalents and Short-Term Investments	381.88M	369.06M	184.89M	203.32M	212.93M	199.09M
Total Debt	114.84M	111.98M	1.31M	583.00K	1.26M	1.74M
Total Liabilities	377.07M	305.55M	105.81M	96.97M	103.42M	86.91M
Stockholders Equity	718.12M	702.73M	507.25M	489.05M	512.40M	467.57M
Cash Flow
Free Cash Flow	37.59M	52.60M	28.10M	30.69M	40.17M	33.71M
Operating Cash Flow	162.56M	138.63M	91.57M	85.64M	107.38M	85.91M
Investing Cash Flow	-71.23M	-44.67M	-65.71M	-26.52M	-106.63M	-40.97M
Financing Cash Flow	107.92M	115.12M	-16.80M	-17.98M	-7.43M	-1.45M

Silvercorp Metals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.71
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 13.71 is below the 20-day moving average (MA) of 14.90, above the 50-day MA of 12.51, and above the 200-day MA of 8.25, indicating a bullish trend. The MACD of 1.48 indicates Negative momentum. The RSI at 64.95 is Neutral, neither overbought nor oversold. The STOCH value of 49.36 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APM	78 Outperform	C$1.55B	14.13	42.17%	―	33.21%	47.22%
FVI	76 Outperform	$4.94B	14.22	15.63%	―	7.61%	915.74%
SCZ	73 Outperform	C$1.87B	15.85	47.13%	―	21.03%	-48.39%
SVM	69 Neutral	C$3.82B	108.16	3.54%	0.29%	37.50%	-60.92%
AYA	62 Neutral	C$3.97B	1,519.05	0.71%	―	241.04%	-80.07%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
DV	56 Neutral	C$693.59M	-21.88	-26.19%	―	―	-5.25%

Silvercorp Metals Corporate Events

Silvercorp Closes Acquisition of Kyrgyz Tulkubash and Kyzyltash Gold Projects

Silvercorp Metals has completed the US$92 million acquisition of Chaarat ZAAV CJSC, gaining full ownership of the mining licence that hosts the fully permitted Tulkubash and Kyzyltash gold projects, along with surrounding exploration licences in the gold-rich Tian Shan region of Kyrgyzstan. The company will convert ZAAV into a joint venture with state-owned Kyrgyzaltyn, in which Silvercorp will hold a 70% operating stake and Kyrgyzaltyn a 30% free-carried interest, and the venture plans to seek a 30-year extension of its mining licence to 2062, after which Silvercorp will make a further US$60 million payment to Kyrgyz authorities, expanding its gold portfolio and deepening its strategic presence in Central Asia.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$19.50 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Silvercorp Buys Majority Stake in Major Kyrgyz Gold Projects in US$162 Million Deal

Silvercorp Metals has agreed to acquire a 70% interest in Chaarat ZAAV CJSC, owner of the fully permitted Tulkubash and Kyzyltash gold projects and nearby exploration licenses in Kyrgyzstan’s Tian Shan region, for total cash consideration of US$162 million. Following completion, ZAAV will be converted into a joint venture with state-owned Kyrgyzaltyn, under which Silvercorp will operate the projects with a 70% stake and Kyrgyzaltyn will hold a 30% free-carried interest, supported by a cooperation framework with the Kyrgyz government’s National Investment Agency that includes staged payments tied to regulatory waivers and mining license extensions through 2062. The joint venture plans a two-phase development: Phase 1 involves a US$150 million investment to build a 4-million-tonne-per-year open-pit heap-leach mine at Tulkubash targeting annual production of about 110,000 ounces of gold from 2027 for several years, with potential extensions from nearby Karator, while Phase 2 foresees roughly US$400 million to develop the Kyzyltash sulfide deposit into a large open-pit/underground operation with BIOX and CIL processing, expected to yield 190,000–230,000 ounces of gold annually over more than 18 years starting in 2031. Funded from existing cash, short-term investments, operational cash flow and financing capacity, the deal gives Silvercorp exposure to what it describes as some of the largest undeveloped gold deposits in the West Tien Shan belt, strengthening its position in the gold sector and potentially unlocking long-term value for both shareholders and local stakeholders through a state-backed partnership structure.

The most recent analyst rating on (TSE:SVM) stock is a Hold with a C$10.50 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Silvercorp Delivers Record Revenue Despite Mixed Metal Output in Q3 FY2026

Silvercorp Metals reported record quarterly revenue of approximately $126.1 million for its third quarter of fiscal 2026, up 51% year-on-year, despite modest declines in silver and lead output and flat overall silver-equivalent production. Group silver production slipped 4% to 1.9 million ounces and silver-equivalent output fell 5% to 2.0 million ounces, as lower head grades at the Ying Mining District—partly due to XRT sorter maintenance and higher dilution from increased shrinkage mining—offset an 18% rise in ore processed and higher zinc production. The GC Mine delivered higher zinc output but lower silver and lead volumes, while across the portfolio the company maintained intensive exploration and development activity, stockpiled over 61,000 tonnes of ore at Ying for processing over the Chinese New Year, and advanced ramp development at the Kuanping mine, positioning its Chinese operations for continued throughput and potential future growth.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Silvercorp Unveils High-Return PEA for Condor Gold Project in Ecuador

Silvercorp Metals has released a robust Preliminary Economic Assessment for its Condor gold project in Ecuador, outlining an underground mine with a 13-year life producing an estimated 1.375 million ounces of payable gold, 5.266 million ounces of payable silver, and significant zinc and lead by-products. At base case metal prices, the study indicates an after-tax NPV (5%) of US$522 million, an internal rate of return of 29%, initial capital costs of US$292 million and a three-year post-tax payback from commercial production, supported by an average life-of-mine all-in sustaining cost of about US$1,258 per ounce net of by-product credits; sensitivity analysis shows materially higher returns at current spot prices, underscoring the project’s potential to become a core growth driver for Silvercorp and strengthen its position in the gold sector, albeit at a preliminary stage that still relies on inferred resources and has not yet been converted to reserves.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$9.00 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Silvercorp Announces Key Leadership Changes in Finance Team

Silvercorp Metals Inc. announced a transition in its senior finance team with the retirement of Derek Liu as CFO and the appointment of Winnie Wang as Interim CFO. Lei Wu has also been appointed as Corporate Controller. These changes reflect the company’s commitment to strong financial governance and internal talent development as it pursues its strategic objectives.

The most recent analyst rating on (TSE:SVM) stock is a Buy with a C$8.25 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Silvercorp Announces Semi-Annual Dividend for Shareholders

Silvercorp Metals Inc. has announced a semi-annual dividend of US$0.0125 per share, payable to shareholders on record by November 28, 2025, with the payment scheduled by December 12, 2025. This decision reflects the company’s ongoing commitment to shareholder value, though future dividends will depend on various factors including market conditions and financial performance.

The most recent analyst rating on (TSE:SVM) stock is a Hold with a C$9.50 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.

Silvercorp Metals Reports Robust Q2 Fiscal 2026 Results

Silvercorp Metals reported a strong financial performance for Q2 Fiscal 2026, with an adjusted net income of $22.6 million and cash flow from operating activities of $39.2 million. Despite a net loss due to a non-cash charge, the company saw a 23% increase in revenue driven by higher selling prices for silver and gold. The company continues to invest in its operations, with significant capital allocated to its projects in China and Ecuador, and has secured additional financing for the El Domo mine construction.

The most recent analyst rating on (TSE:SVM) stock is a Hold with a C$9.50 price target. To see the full list of analyst forecasts on Silvercorp Metals stock, see the TSE:SVM Stock Forecast page.