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Silvercorp Metals
(NYSE MKT:SVM)
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Rating:71Outperform
Price Target:
C$19.00
▲(39.60% Upside)
Action:Upgraded
Date:08/11/26
The score is driven primarily by solid financial strength (low leverage and strong cash generation) and a constructive technical uptrend. This is tempered by valuation risk from a negative P/E and near-term operational uncertainty flagged on the earnings call (temporary production slowdowns and higher costs), despite strong recent reported results and liquidity.
Positive Factors
Strong cash generation
Consistent, sizable operating cash flow and positive free cash flow create durable liquidity to fund operations, capex and growth without relying on equity raises. Strong cash conversion cushions commodity volatility and supports investment in mills and projects over the medium term.
Negative Factors
High operating concentration at Ying
With almost all mining operating income tied to a single asset, company cash flow and margins are highly exposed to local disruptions, regulatory changes or mine-specific declines. This concentration limits resilience and increases the impact of site-level operational or permitting setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent, sizable operating cash flow and positive free cash flow create durable liquidity to fund operations, capex and growth without relying on equity raises. Strong cash conversion cushions commodity volatility and supports investment in mills and projects over the medium term.
Read all positive factors
Silvercorp Metals (SVM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.73B
Dividend Yield0.21%
Average Volume (3M)885.10K
Price to Earnings (P/E)89.4
Beta (1Y)3.00
Revenue Growth59.20%
EPS Growth-44.71%
CountryCA
Employees372
SectorBasic Materials
Sector Strength58
IndustrySilver
Share Statistics
EPS (TTM)0.13
Shares Outstanding221,206,310
10 Day Avg. Volume1,041,811
30 Day Avg. Volume885,098
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)1.12
Price to Sales (P/S)2.63
P/FCF Ratio14.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$20.50Price Target Upside50.63% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.85
Revenue Forecast (FY)C$493.69M
Silvercorp Metals Business Overview & Revenue Model
Company Description
Silvercorp Metals Inc., along with its affiliated companies, operates in the mining sector, focusing on acquiring, exploring, developing, and extracting minerals from properties situated in China and Mexico. The firm's principal activities involve...
How the Company Makes Money
Silvercorp makes money primarily by mining and processing ore and selling the resulting metal-bearing concentrates. Its key revenue streams are: (1) Sales of concentrates containing silver, lead, and zinc: The company extracts ore, processes it at...
Silvercorp Metals Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presented strong financial results driven primarily by a substantial increase in realized silver prices, leading to large revenue and cash-flow gains, improved adjusted earnings and a robust liquidity position. These positives were partly offset by temporary production slowdowns for safety upgrades in China, declines in metal volumes, rising per-ounce costs (cash costs and AISC), higher government taxes, and some weather- and timing-related delays at growth projects. The company nevertheless signaled confidence in its targets, reported active project advancement and maintains significant cash, investments and undrawn credit capacity to fund growth.Positive Updates
Strong Revenue Growth
Revenue increased 70% year-over-year to $139 million in Q1 fiscal 2027, driven largely by higher metal prices (silver) and despite temporary production slowdowns.
Negative Updates
Temporary Production Slowdown and Safety-Related Suspensions
Voluntary suspension of operations at two Chinese sites beginning June 29 to complete safety self-review and implement underground safety system upgrades; operations recommenced at Ying at reduced rates. Company projects Q2 production at ~40%-50% of original plan, creating near-term production uncertainty.
Read all updates
Q1-2027 Updates
Positive
Negative
Strong Revenue Growth
Revenue increased 70% year-over-year to $139 million in Q1 fiscal 2027, driven largely by higher metal prices (silver) and despite temporary production slowdowns.
Read all positive updates
Company Guidance
Management said it is premature to change annual guidance despite temporary safety‑related shutdowns and that they remain “comfortable” with the near‑term target of achieving roughly 40–50% of plan for the quarter as production ramps back, with a formal review once visibility improves; Q1 production was ~1.5M oz silver and the company noted RMB movements and safety upgrades as the key short‑term impacts. Cost metrics at Ying remained below annual guidance: production costs averaged $87/ton (guidance $88–$90/ton) and all‑in sustaining costs were $130/ton (guidance $155–$160/ton), equivalent to a cash cost of $2.45/oz and AISC of $13.94/oz (with government taxes up ~60–68%); Q1 financials included revenue of $139M (up 70% YoY), net income $59.4M ($0.27/share), adjusted net income $53.9M ($0.24/share), operating cash flow before working capital $70.4M (up 82%), cash flow from operations nearly $62M and free cash flow $29M. They reiterated strong liquidity and funding optionality — $387M cash, $304M market value of investments, and ~USD 220M of undrawn RMB term loans — while continuing planned project spend (Q1 capex: China $22M, El Domo $12M, Chaarat $2.6M; Tulkubash total planned investment $166M with $42M in FY2027) and growth projects such as a 3,000 tpd Mill #3 targeted for commissioning in Q1 FY2028.Silvercorp Metals Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
84
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 488.55M | 434.22M | 298.89M | 215.19M | 208.13M | 217.92M |
| Gross Profit | 296.58M | 249.52M | 123.55M | 125.81M | 115.92M | 128.47M |
| EBITDA | 226.32M | 267.32M | 142.76M | 99.14M | 64.80M | 95.21M |
| Net Income | 29.91M | -9.86M | 58.19M | 36.31M | 20.61M | 30.63M |
Balance Sheet | ||||||
| Total Assets | 1.54B | 1.47B | 1.14B | 702.82M | 676.80M | 723.54M |
| Cash, Cash Equivalents and Short-Term Investments | 386.48M | 422.63M | 369.06M | 184.89M | 203.32M | 212.93M |
| Total Debt | 118.25M | 118.48M | 111.98M | 1.31M | 583.00K | 1.26M |
| Total Liabilities | 356.09M | 358.81M | 305.55M | 105.81M | 96.97M | 103.42M |
| Stockholders Equity | 985.19M | 941.67M | 702.73M | 507.25M | 489.05M | 512.40M |
Cash Flow | ||||||
| Free Cash Flow | 162.52M | 172.24M | 52.60M | 28.10M | 30.69M | 40.17M |
| Operating Cash Flow | 317.14M | 300.34M | 138.63M | 91.57M | 85.64M | 107.38M |
| Investing Cash Flow | -288.93M | -227.29M | -44.67M | -65.71M | -26.52M | -106.63M |
| Financing Cash Flow | -28.08M | -24.12M | 115.12M | -16.80M | -17.98M | -7.43M |
Silvercorp Metals Technical Analysis
Positive
13.61
Price Trends
14.69
Positive
15.69
Positive
14.36
Positive
Market Momentum
0.66
Negative
60.37
Neutral
81.85
Negative
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 13.61 is below the 20-day moving average (MA) of 14.35, below the 50-day MA of 14.69, and below the 200-day MA of 14.36, indicating a bullish trend. The MACD of 0.66 indicates Negative momentum. The RSI at 60.37 is Neutral, neither overbought nor oversold. The STOCH value of 81.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SVM.
Silvercorp Metals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | C$4.47B | 8.46 | 22.20% | ― | 6.47% | 126.03% | |
74 Outperform | C$5.60B | 43.59 | 20.80% | ― | 313.42% | ― | |
74 Outperform | C$1.03B | 4.25 | 18.47% | ― | 62.75% | 181.92% | |
71 Outperform | C$3.73B | 89.45 | 3.54% | 0.26% | 59.20% | -44.71% | |
70 Outperform | C$1.14B | 12.90 | 33.35% | ― | 26.70% | 31.54% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
TSE:SVM
Silvercorp Metals
16.67
10.37
164.52%
TSE:FVI
Fortuna Mining Corp
14.81
4.73
46.92%
TSE:AYA
Aya Gold & Silver
35.95
23.65
192.28%
TSE:SCZ
Santacruz Silver Mining
12.26
7.02
133.97%
TSE:APM
Andean Precious Metals
6.97
2.21
46.43%
Silvercorp Metals Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Silvercorp Profit Surges on Strong Silver Prices Despite Higher Costs
Positive
Aug 10, 2026
Silvercorp Metals reported strong financial results for the quarter ended June 30, 2026, with revenue rising 70% to $138.7 million, driven largely by a 135% jump in realized silver prices. The company produced about 1.5 million ounces of silver an...
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.