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Silvercorp Metals Inc. (SVM)

- NYSE
  • Oct. 24, 2011, 8:52 AM
    Silvercorp (SVM) +4.2% after saying that KPMG Forensics has given a clean bill of health to the miner's accounting system in China and North America. Short sellers had accused Silvercorp of inflating earnings and the size of its mineral resources. (PR)
    | 2 Comments
  • Sep. 23, 2011, 1:21 PM
    Silvercorp (SVM) files a lawsuit against several websites, charging them with making "false, defamatory, and fraudulent" statements. The company is asking for punitive damages in excess of $10M. Shares have fallen about 40% since initial research from Alfred Little accused the company of fraud.
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  • Sep. 22, 2011, 9:00 AM
    Premarket gainers: GR +10%. RHT +6%.. Leveraged short ETFs: TVIX +20%. EDZ +16%. BZQ +15%. ZSL +13%. SRTY +11%. TZA +11%. BGZ +10%. SPXU +9%. SQQQ +9%. TYP +8%. TWM +8%. FAZ +8%. SDS +6%. DXD +6%. QID +6%. SH +3%.
    Losers: SOL -8%. VALE -8%. RIO -8%. SVM -7%. MT -7%. PBR -6%. TS -7%. LYG -6%. MCP -7%. MPEL -7%. DRYS -6%. SLW -6%. RF -6%. AKS -6%. PCX -6%. BHP -6%. JDSU -7%. AUY -6%. FCX -6%. SDRL -6%. NYX -6%. GFI -6%. ING -6%. TEF -6%. AU -6%. ARMH -5%. TOT -6%. ALU -6%.
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  • Sep. 20, 2011, 9:51 AM
    Just 2 weeks ago, long Silvercorp (SVM -1.3%) and defending the company against fraud accusations, Adam Gefvert reverses as new information emerges. While he doesn't believe the firm is completely illegitimate, he calls for SVM to hire an outside geology firm to confirm the "grams/ton," or purity of its SGX mine.
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  • Sep. 19, 2011, 12:49 PM
    Silvercorp (SVM -5.7%) responds to the latest allegations by Alfred LIttle, contending it is the victim of a well-organized scheme by short-sellers. The miner points out discrepancies in LIttle's own research as well as questioning what expertise the firm has in analyzing ore samples "dropped" from a truck.
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  • Sep. 19, 2011, 11:06 AM
    Silvercorp (SVM -7.4%) is sliding on another Alfred Little report alleging the company's income is inflated by 5 times. The paper includes the results of video surveillance of delivery trucks indicating far lower levels of production than reported, and evidence the firm's largest customer is a "related party."
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  • Sep. 14, 2011, 12:34 PM
    Embattled Silvercorp (SVM) responds to fraud allegations by placing blame on the usual suspects (short sellers) as trying to drive the company's share price lower. The firm received a little support earlier when Raymond James jumped in and backed (to a degree) their version of events. Shares are now up 12.5% after tumbling yesterday.
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  • Sep. 14, 2011, 9:16 AM
    Raymond James is defending Silvercorp (SVM) following a fraud investigation from Canadian regulators, and a negative report from Alfred Little. The firm thinks a Chinese mine brought up in Alfred Little's report is a quality asset, and believes the recent decline in Silvercorp shares presents a buying opportunity. SVM +4.3% premarket.
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  • Sep. 13, 2011, 11:16 AM
    Silvercorp (SVM -11.7%) is falling hard after Alfred Little issues a bearish report questioning the company's "production, quality and resource estimates" for a Chinese mine, and claiming much of the company's sales growth has come from "two questionable customers." (.pdf)
    | 6 Comments
  • Sep. 12, 2011, 3:02 PM
    Silvercorp (SVM -8.6%) gets hit today after it acknowledges that British Columbia's securities regulator is investigating allegations of company fraud. Silvercorp says it welcomes the investigation and is cooperating.
    | 1 Comment
  • Sep. 2, 2011, 9:16 AM
    Silvercorp (SVM -9%) discloses "a dramatic increase in the short position of its shares," and the receipt of an anonymous letter alleging a "potential $1.3B accounting fraud." The firm describes the accusation as "malicious" and offers a point by point rebuttal of the letter.
    | 1 Comment
  • Jul. 18, 2011, 10:50 AM
    Silver follows the same upward track as gold, topping $40/oz as a cheaper alternative to the safe-haven favorite. Shares of select silver companies also gain: Silvercorp Metals (SVM +3.7%), Silver Standard (SSRI +1.8%), Silver Wheaton (SLW +2.5%).
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  • Jul. 14, 2011, 9:05 AM
    Premarket gainers: COP +9%. IRE +5%. SUG +5%. RENN +4%. LYG +4%. GPL +4%. AG +4%. SVM +3%. JPM +3%. YUM +3%.
    Losers: MRX -5%. MAR -5%.
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  • Jul. 14, 2011, 9:03 AM
    Silvercorp (SVM) reports a record $69.7M in Q1 sales, up 90% YoY. Silver production rose 15% to a record 1.6 million ounces, and gold production was up 30% to 1,390 ounces over the same period. Shares +2.6% premarket.
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  • Jul. 5, 2011, 1:32 PM
    Analysts at RBC Capital Markets see a rally in silver (SLV +4.6%,) for the second half of the year, and Phillip Futures agrees, calling for a $45 price. Large silver gainers: Endeavor Silver (EXK +11.1%), Silvercorp Metals (SVM +12.1%), Silver Wheaton (SLW +7.2%.
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  • Jul. 5, 2011, 11:36 AM
    Silvercorp Metals (SVM) is up 10.7% after reporting that a resources estimate on a Chinese mining property "indicates" the presence of 225K ounces of gold. The estimate also "infers" the presence of an additional 208K ounces of gold, as well as 111K tons of lead and 284K tons of zinc. (PR)
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Company Description
Silvercorp Metals Inc is engaged in the acquisition, exploration, development, and mining of precious and base metal mineral properties. The Company's producing mines are in China, with current exploration and development projects in China and Canada.
Industry: Silver
Country: Canada