Silvercorp Metals (NYSE:SVM) Earnings More Than Double

Silvercorp Metals (NYSE:SVM) reported profits in third quarter as more than double the profits last year, as metal prices soared, helping drive the positive results.

Profits in the third quarter cam to $29.7 million, or 18 cents a share, more than double the $12.4 million, or 8 cents a share they generated last year in the same quarter.

Revenue in the latest quarter increased to $51. 8 million, a gain of 65.5 percent.

Adjusted net earnings for the miner were 13 cents a share.

Silvercorp closed in New York at $11.78, gaining $0.20, or 1.73 percent.