Canadian mining company Silvercorp Metals traded at $4.42 indicating a 5.49% positive change. Participating investors traded a total volume of 2.7 million when the average daily trading volume reaches 2.6 million shares.
Some interesting findings appeared in Q1 2020 financial report which was recently unveiled.
Q1 2020 financial results
For the first quarter ended revenue drastically fell to $18,859,000 from Q4 2019’s $44,508,000. Most probably coronavirus affected the demand for precious metals as people tend to spend their funds for essentials only. Fortunately, gross profit became positive but operating income turns negative as operating expenses quarterly grew by $1.8 million. The company can’t cut jobs because hiring again can be costly through HR expenses.
Silvercorp Metals’ market capitalization values at $772.015 million while EPS is 0.2500. Since Silvercorp Metals’ net income always has been positive for a couple of years, investors expect dividends. Before dividend payment, the stock usually rises. In June the management might release funds for those expenses.
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