|Bid||7.05 x 0|
|Ask||7.06 x 0|
|Day's Range||6.90 - 7.28|
|52 Week Range||2.12 - 7.69|
|Beta (5Y Monthly)||1.46|
|PE Ratio (TTM)||35.20|
|Forward Dividend & Yield||0.03 (0.48%)|
|Ex-Dividend Date||Jun 04, 2020|
|1y Target Est||N/A|
Silvercorp Metals Inc. (SVM) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
Shandong Gold Mining Co , one of China's biggest gold producers, said on Thursday it would buy Ghana-focused miner Cardinal Resources Ltd for around A$321 million ($221 million) in cash. Shandong Gold, which in April agreed to splash out C$230 million ($170 million) on Canada's TMAC Resources, said in a filing to the Shanghai Stock Exchange it had signed an agreement with Australia-listed Cardinal to pay A$0.60 per share and would acquire all the target's equity for AS$309 million. Its website says it is focused on the Namdini gold deposit in Ghana, which has 5.1 million ounces of proved and probable ore reserves, and has other exploration projects in the West African country.
Silver stocks are driven by the metal's use in a wide range of industrial processes, and its popularity as a safe haven asset. Silver stocks, which are primarily mining companies, also are driven by the yield on bank CDs or Treasury bonds. All silver companies in this story are headquartered in Canada and their primary trading venue is the Toronto Stock Exchange, but they also trade on U.S. exchanges.
(Bloomberg) -- Chinese miners are buying up small Canadian gold producers as gold prices have rallied about 35% from the start of last year.Zijin Mining Group Co. Ltd. agreed to buy Guyana Goldfields Inc. for cash on Friday, with a deal valuation of about C$323 million. This follows the May announcement by Shandong Gold Mining Co. Ltd. to buy TMAC Resources Inc. for cash at an equity value of about $149 million.Spot gold prices and gold miners have outperformed the global equity markets this year amid Covid-19 uncertainties and unprecedented global stimulus. That follows an 18% gain last year on broader global growth fears, which had helped drive a series of deals in recent months.Zijin bought Guyana Goldfields after a hard fought battle with two other miners. The initial offer came from Silvercorp Metals Inc. on April 27 to buy Guyana for C$0.60 per share or a share exchange deal. However, within a couple of weeks, a rival bid from Gran Colombia Gold Corp. raised the offer to C$0.90 per share, subsequently prompting Silvercorp to raise its offer to C$1.30 per share. However, both offers were ultimately trumped by Zijin’s C$1.85 per share, more than three times the initial C$0.60 offer.Zijin Mining has been on a buying spree since announcing in November last year that it planned to seek out M&A opportunities in gold mining projects that are currently in production or will commence production soon. In December, it had also bought another Canadian miner, Continental Gold Inc., for C$1.37 billion in cash. For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
China's Zijin Mining said on Friday it would acquire Guyana Goldfields for C$323 million ($238 million), bringing an end to a protracted takeover battle for the Canada-listed gold miner. Toronto-based Guyana Goldfields announced on June 3 that it had received a binding proposal from an unnamed overseas-based miner to acquire the company, valuing it around 35% higher than a previously accepted offer from Silvercorp Metals. On Friday, Zijin, one of China's biggest gold producers, was confirmed as the mystery bidder behind the higher all-cash offer to buy Guyana Goldfields, whose flagship asset is the Aurora gold mine in Guyana, for C$1.85 per share.
A lull in corporate takeover activity among gold miners is expected to end as new coronavirus-linked travel restrictions are lifted in coming months, clearing the way for prospective buyers, industry executives and fund managers said. "Our industry is considering coronavirus a thing of the past as most countries are easing lockdowns and this should propel M&A activity again," said Ingo Hofmaier, SolGold’s executive general manager of project and corporate finance.
Silvercorp (SVM) delivered earnings and revenue surprises of 300.00% and -3.78%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Silvercorp Metals (TSE:SVM) shareholders are no doubt pleased to see that the share price has had a great month...
Silver miners rallied nicely today, with Coeur Mining leading the way with a nearly 19% gain. Here's what drove the advance.
Shares of precious metals miner Silvercorp Metals (NYSEMKT: SVMLF) were up around 10% an hour before the close on April 28. Silvercorp intends to buy Guyana Goldfields, a tiny Toronto Stock Exchange listed company, for around $75 million. Silvercorp will also provide Guyana a $15 million loan to fund its near-term exploration efforts while the deal is still pending.
Canada's main stock index fell on Friday, led by declines in energy stocks, with investors also shrugging off a strong jobs report as a mounting death toll from the coronavirus epidemic hurt sentiment. * The death toll in mainland China reached 637 on Friday, with a total of 31,211 cases, WHO chief Tedros Adhanom Ghebreyesus said in Geneva. * At 10:04 a.m. ET (1504 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 72.9 points, or 0.41%, at 17,684.59.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
How far off is Silvercorp Metals Inc. (TSE:SVM) from its intrinsic value? Using the most recent financial data, we'll...
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
After Silvercorp Metals Inc.'s (TSE:SVM) recent earnings announcement in March 2019, analyst forecasts appear to be...
Silvercorp Metals Inc.'s (TSE:SVM) most recent earnings announcement in May 2019 revealed that the company endured a...