Silvercorp Metals (SVM) Remains Under Pressure

Whether justified or not, Silvercorp Metals (SVM) has been under pressure lately over ongoing rumors as to the health of the company, which are probably being circulated by those shorting the company, as they did last year.

More than that, it is the response of Silvercorp to those unwarranted rumors that may be of more concern to those following the company.

Lawsuits and internal investigations could be looked upon as distractions to the company, as some are saying a strong performance is the best medicine to counter the alleged fraudulent and false rumors.

In response to that, BMO Capital was the latest brokerage to downgraded Silvercorp, this time from an "Outperform" rating to a "Market Perform" rating.

Silvercorp was trading at $7.05, falling 0.11, or 1.54 percent, as of 10:50 AM EST.

Newmont (NEM) (SVM) (X) (AEIS) (ETR) (VLO) Ratings, Price Targets

Newmont Mining Co. (NYSE: NEM), Silvercorp Metals (NYSE: SVM), U.S. Steel (NYSE: X), Advanced Energy Industries, Inc. (NASDAQ: AEIS), Entergy Corp. (NYSE: ETR) and Valero Energy Co. (NYSE: VLO) ratings and price targets.

Newmont Mining Co. (NEM) was downgraded by Stifel Nicolaus from a “Buy” rating to a “Hold” rating.

Silvercorp Metals (SVM) had its “Outperform” rating reiterated by BMO Capital Markets. They have a price target of $11.00 on the company.

U.S. Steel (X) had its “Buy” rating reiterated by KeyBanc.

Advanced Energy Industries, Inc. (AEIS) had its price target raised by Dougherty & Co from $8.00 to $10.00. They have a “Neutral” rating on the company.

Entergy Corp. (ETR) had its price target lowered by BMO Capital Markets to $69.00. They have a “Market Perform” rating on the company.

Valero Energy Co. (VLO) had its price target lowered by Credit Suisse (NYSE:CS) to $37.00. They have an “Outperform” rating on the company.

Silvercorp (SVM) (CELG) (CLR) (CRM) (DKS) Ratings Reiterated

Silvercorp Metals (NYSE: SVM), Celgene (NASDAQ: CELG), Continental Resources, Inc. (NYSE: CLR), Salesforce.com (NYSE: CRM) and Dick’s Sporting Goods (NYSE: DKS) had ratings on them reiterated by analysts.

BMO Capital Markets reiterated its “Outperform” rating on Silvercorp Metals (SVM).

Rodman & Renshaw reiterated its “Outperform” rating on Celgene (CELG). They have a price target of $105.00 on the company.

Imperial Capital reiterated its “Market Perform” rating on Continental Resources, Inc. (CLR). They have a price target of $70.00 on the company.

Bank of America (NYSE:BAC) reiterated its “Buy” rating on Salesforce.com (CRM).

Sterne Agee reiterated its “Underperform” rating on Dick’s Sporting Goods (DKS). They have a price target of $32.00 on the company.

Silvercorp (SVM) (AIR) (ITW) (KMT) (WCAA) Ratings Reiterated

Silvercorp Metals (NYSE: SVM), AAR Corp. (NYSE: AIR), Illinois Tool Works Inc. (NYSE: ITW), Kennametal Inc. (NYSE: KMT) and WCA Waste Co. (NASDAQ: WCAA) had ratings on them reiterated by analysts.

EarlyBird Capital reiterated its "Buy" rating on AAR Corp. (AIR).

Barrington Research reiterated its "Outperform" rating on Illinois Tool Works Inc. (ITW).

Barrington Research reiterated its "Outperform" rating on Kennametal Inc. (KMT).

BMO Capital Markets reiterated its "Outperform" rating on Silvercorp Metals (SVM).

Wunderlich reiterated its "Hold" rating on WCA Waste Co. (WCAA). They have a price target of $5.50 on the company.

Silver Wheaton (SLW) (HL) (CDE) (PAAS) (SVM) Jump As Silver Prices Soar

Investors looking to gold and silver for safety as equities drop, pushing up the price of the precious metals and silver companies like Silver Wheaton (NYSE:SLW), Hecla Mining (NYSE:HL), Coeur d'Alene Mines (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Silvercorp Metals Inc. (NYSE:SVM).

Silver prices are up with the most actively traded contract, for July delivery, recently up 22.3 cents, or 0.6 percent, at $35.155 a troy ounce.

The most actively traded gold contract, for June delivery, was recently up $19.70, or $1.3 percent, at $1,512.10 a troy ounce on the Comex division of the New York Mercantile Exchange.

Silvercorp Metals Inc. (SVM) was trading at $10.28, gaining $0.04, or 0.39 percent, as of 1:30 PM EDT. Pan American Silver (PAAS) was trading at $32.94, gaining $0.51, or 1.57 percent. Coeur d'Alene Mines (CDE) was at $8.14, rising $0.09, or 1.42 percent. Hecla Mining (HL) was trading at $0.09, climbing $1.12, or 3.04 percent. Silver Wheaton (:SLW) was at $35.37, jumping $0.67, or 1.93 percent.

Silvercorp Metals (SVM) Trades Down as Silver Prices Fall

Silvercorp Metals Inc. (NYSE:SVM) traded down as silver prices fell on Thursday.

Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.

Gold for June delivery closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.

Extremely bad news on Obama's economy pressured the commodity sector.

July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.

Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.

Silvercorp Metals Inc. participates in the acquisition, exploration, development, and operation of silver mineral properties in China and Canada.

Silvercorp Metals Inc. (SVM) closed Thursday at $10.24, falling $0.14, or 1.35 percent.

Miners (SVM) (MFN) (EXK) (AXU) (SLW) Trade Up as Silver Rebounds

Shares of Silvercorp Metals Inc. (NYSE:SVM), Minefinders Corp. Ltd. (AMEX:MFN), Endeavour Silver (AMEX: EXK), Alexco Resource (AMEX: AXU) and Silver Wheaton (NYSE:SLW) as silver, gold and the majority of other commodity prices climbed on the day.

The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.

June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.

A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.

Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.

Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.

The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.

Silvercorp Metals Inc. (SVM) closed Wednesday at $10.38, gaining $0.36, or 3.59 percent.

Miners (SLW) (PAAS) (HL) (CDE) All Close Up Tuesday

Shares of Silver Wheaton (NYSE:SLW), Pan American Silver (NASDAQ:PAAS), Hecla Mining (NYSE:HL) and Coeur d'Alene Mines (NYSE:CDE) closed up on Tuesday, as silver prices were up slightly on the day.

Silver gained 0.7 percent to settle at $33.80 an ounce. Since the latter part of April it has fallen almost 33 percent from a record high of $49.51.

Gold futures for June delivery closed down $10.60, or 0.7 percent, at $1,480.00 per ounce in New York. Trade ranged from a low $1,471.10 to a high of $1,497.50.

Silver Wheaton (SLW) closed Tuesday at $34.32, gaining $0.57, or 1.69 percent.

Endeavor Silver (AMEX:EXK) closed the same as Monday, while First Majestic (NYSE:AG) and Silvercorp Metals Inc. (NYSE:SVM) both closed down.

Silvercorp Metals Pressured with Silver Prices

Silvercorp Metals Inc. (NYSE:SVM) dropped in Wednesday trading, as silver prices plunged again in the extremely volatile market.

The most-actively traded silver contract, for July delivery, settled down $2.971, or 7.7 percent, at $35.515 per troy ounce on the Comex division of the New York Mercantile Exchange. Silver for May delivery was down $2.971, or 7.7 percent, at $35.509.

Gold for June delivery dropped $15.50 to settle at $1,501.40 at the Comex division of the New York Mercantile Exchange. The gold price Wednesday traded as high as $1,526.80 and as low as $1,495.40.

Gold lost 1 percent overall and silver plunged close to 8 percent on a broad commodity selloff, as the U.S. dollar index climbed over 1 percent to $75.41, as the euro was weakened by the seemingly endless sovereign debt crisis in Europe that isn't going away.

Gold and silver also garnered no support from rising inflation data. China said prices dropped to 5.3 percent in April from 5.4 percent in March, but that number was higher than the 5.2 percent looked for.

Silvercorp Metals Inc. participates in the acquisition, exploration, development, and operation of silver mineral properties in China and Canada.

Silvercorp Metals Inc. (SVM) closed Wednesday at $10.89, falling $0.59, or 5.14 percent.

Silvercorp (SVM) (CDE) (AXU) (FVITF) (EXK) Trade Down As Silver Rebounds

Silvercorp Metals Inc. (NYSE:SVM), Coeur d'Alene Mines (NYSE:CDE), Alexco Resource (AMEX:AXU), Fortuna (OTC:FVITF.PK) and Endeavour Silver (AMEX: EXK) trade down as silver climbed.

Silver and gold prices went through a reversal Friday, as gold closed down and silver rebounded to close higher, putting pressure on .

Silver prices settled up 21 cents to $35.01 an ounce. Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce.

The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.

Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.

Hecla Mining (HL) closed Friday at $8.13, down $0.01, or 0.12 percent.

Dividends on (SBTB) (NJR) (TSX:SVM) (TSX:THI) (TSX:SCL-A) Declared

Bancorp Inc. (OTC:SBTB), New Jersey Resources Corp. (NYSE:NJR), Silvercorp Metals Inc (TSX:SVM), Tim Hortons Inc. (TSX:THI) and ShawCor Ltd. (TSX:SCL-A) declare dividends.

The Board of Directors of Bancorp Inc. (SBTB) declared a quarterly common stock dividend of $0.12 per share payable 6/14/11 to shareholders of record at the close of business on 6/15/11.

The Board of Directors of New Jersey Resources Corp. (NJR) declared a quarterly common stock dividend of $0.36 per share payable 7/1/11 to shareholders of record at the close of business on 5/27/11.

Silvercorp Metals Inc (TSX:SVM) declared a fourth quarter common stock dividend of C$0.02 per share payable 7/21/11 to shareholders of record at the close of business on 6/30/11.

The Board of Directors of Tim Hortons Inc. (TSX:THI) declared a quarterly common stock dividend of C$0.17 per share payable 6/14/11 to shareholders of record at the close of business on 5/27/11.

The Board of Directors of ShawCor Ltd. (TSX:SCL-A) declared a quarterly common stock dividend of C$0.08 per share payable 5/31/11 to shareholders of record at the close of business on 5/24/11.

Miners (HL) (SLW) (SVM) (AXU) (EXK) Trade Down Even as Silver Jumps Again

Shares of silver firms Hecla Mining (NYSE:HL), Silver Wheaton (NYSE:SLW), Silvercorp Metals Inc. (NYSE:SVM), Alexco Resource (AMEX: AXU) and Endeavour Silver (AMEX: EXK) closed down Tuesday, even though silver closed in positive territory.

Silver also extended its rebound, with the July contract gaining $1.37, or 3.7 percent, to $38.47 an ounce.

Gold for June delivery added $13.70, or 0.9%, to $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange.

Separately, HSBC Global Research boosted its average price estimate for gold, silver and platinum.

HSBC raised its gold price projection to $1,525 an ounce from $1,450 an ounce this year, and to from $1,300 $1,500 for 2012.

For silver, the bank sees it averaging $34 in 2011, up from a previous estimate of $26, and from $20 $29 in 2012.

Platinum is seen closing 2011 from $1,750 to $1,850, according to HSBC, and ending 2012 at $1,750 from $1,650.

For palladium, HSBC sees it averaging $825, from $750, in 2011, and $750 from $650 in 2012.

Endeavour Silver (EXK) closed at $10.03, down $0.08, or 0.79 percent.

Silver's (HL) (SSRI) (MGN) (SVM) (AXU) Trade Up as Silver, Gold Rebound

Silver companies Hecla Mining (NYSE:HL), Silver Standard Resources (NASDAQ:SSRI), Mines Management (AMEX:MGN), Silvercorp Metals Inc. (NYSE:SVM) and Alexco Resource (AMEX: AXU) closed up Monday as silver prices turned around on Monday.

Silver prices jumped $1.82 to close at $37.11 an ounce after plunging 27 percent last week.

According to research firm Lipper, last week almost $1 billion flowed out of silver exchange traded funds (ETFs).

Gold for June delivery increased $11.86 to settle at $1,503.20 at the Comex division of the New York Mercantile Exchange after dropping 4.8 percent in a week. The gold price Monday traded in a range as high as $1,512 and as low as $1,489.

The U.S. dollar fell to $1.434 against the euro and dropped against the Japanese yen to 80.24 yen.

Silvercorp Metals Inc. (NYSE:SVM) closed Monday at $11.64, gaining $0.50, or 4.49 percent. Mines Management (MGN) closed at $2.33, jumping $0.13, or 5.91 percent. Hecla Mining closed at $8.65, up $0.56, or 6.92 percent.

Silver's (SLW) (FVITF) (MGN) (AG) (SVM) After Metal Trades Down

Silver prices continued to be pressured Friday, as it has been weighed down by the investors takeing profits in recent trade, and increased margin requirements, which has dragged silver companies Fortuna (OTC:FVITF.PK) Mines Management (AMEX:MGN), First Majestic (NYSE:AG), Silvercorp Metals Inc. (NYSE:SVM) and Silver Wheaton (NYSE:SLW) down on the week, although most rebounded on Friday.

Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.

The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.

Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.

Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.

Silver Wheaton (SLW) closed Friday at $35.82, gaining $0.67, or 1.91 percent.

Hecla (HL) (AG) (FVITF) (SVM) (SLW) Hammered as Silver Drops

First Majestic (NYSE:AG), Hecla Mining (NYSE:HL), Fortuna (OTC:FVITF.PK), Silvercorp Metals Inc. (NYSE:SVM) and Silver Wheaton (NYSE:SLW) got crushed Thursday as gold and silver prices continued their fall.

The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.

Since the Friday settlement price silver has plummeted 25 percent.

Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.

The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.

Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.

As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.

Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.

Silver Wheaton closed at $35.15, dropping $1.98, or 5.33 percent. Silvercorp Metals closed at $10.77, down $1.13, or 9.50 percent.

Silver Firms (SLW) (HL) (ISVLF) (SVM) (AXU) Trade Mixed as Silver Takes Beating

Even though silver prices got pummeled again Wednesday, silver producers or companies Silver Wheaton (NYSE:SLW), Hecla Mining (NYSE:HL), Impact Silver (OTC:ISVLF.PK), Silvercorp Metals Inc. (NYSE:SVM) and Alexco Resource (AMEX: AXU) closed the trading day mixed, rebounding from recent losses.

The ongoing plunge in silver prices pressured commodities one Wednesday as investors sold holdings to take money off the table after weeks of prices rising in the sector.

Silver dropped $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver approached the elusive $50 an ounce mark last week.

Silver for July delivery dropped $2.820, at $39.765 per troy ounce.

Despite silver's three-day fall, the price is still 27.3 percent higher on the year.

Gold for June delivery, the most actively traded contract, fell $25.10 to $1,515.30 an ounce.

The U.S. dollar index lost 0.15 percent to $73.01.

Silver Wheaton closed Wednesday at $37.13, gaining $0.22, or 0.60 percent.

Pain for (SVM) (ISVLF) (MGN) (SSRI) (EXK) As Silver Plummets

Shares of silver miners Silvercorp Metals Inc. (NYSE:SVM), Impact Silver (OTC:ISVLF.PK), Mines Management (AMEX:MGN), Silver Standard Resources (NASDAQ:SSRI) and Endeavour Silver (AMEX: EXK) were suffering again as prices plunged again in Tuesday trading.

Silver plunged another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex. In after hours trading the price almost dropped below $40 an ounce.

Much of this has been the result of the decision by the CME Group to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.

To buy a 5,000 ounce contract, silver traders will now have to put up $16,200.

Leverage traders got rid of their silver positions over the last couple of days, driving the price of silver down. Expectations are silver could bottom out as about $38 if there's more leverage leaving the market.

Other than some speculation, other reasons for the boost in silver prices include the collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake. India also raised its interest rates unexpectedly on Tuesday, putting some downward pressure on gold and silver as well.

Of the silver companies in the article, Endeavour was down the most, closing Tuesday at $9.92, falling $0.69, or 6.50 percent.

Silver Bubble for (SLW) (SLV) (SVM) (EXK) (AG)?

With the soaring price of silver, the question is increasingly being asked if silver has now reached bubble proportions and if it's time to sell companies and ETFs like Silver Wheaton Corp., (NYSE:SLW), First Majestic Silver Corp. (NYSE:AG), Silvercorp Metals Inc. (NYSE:SVM), iShares Silver Trust (NYSE:SLV) and Endeavour Silver Corp. (NYSE:EXK).

Some have pointed out the positive media coverage concerning investing in silver as a reason to believe it has reached bubble proportions. While that is one possible indicator, it's somewhat weak, because you could pick out any company or sector and make the same conclusion if it's garnering positive comments. Look at Apple (NASDAQ:AAPL) as an example.

That's not to say there won't be a correction with silver, as it's a given in light of the recent rise in silver prices.

But a bubble implies a price that's not in line with realities, and I can't see that with silver, at least over the long term, as it's an alternative to gold in the investment realm as a hedge against inflation and a place of safety. Add to that growing industrial demand and you have an excellent long-term investment.

In the short term, it is definitely going to correct. With the history of silver being extremely volatile, we'll see some big price swings going forward, but that's simply part of the experience of investing in silver.

As for the silver stocks listed above, they've had a nice boost in share price, but recently have been pulling back. That appears to imply there is some disbelief by investors over the near term concerning the sustainability of of silver prices. They're probably correct.

It's probably not a good time to enter silver, and possibly time to take some profits off the table. But over the long term, taking into account the policies of the Federal Reserve and weak economy, silver should have some way to go before topping off, although it'll be a pretty wild ride.

The bottom line is whether the underlying fundamentals support the price of equities or commodities, and in the case of silver, there's nothing to suggest at this time the fundamentals have changed.

Mag Silver (MVG) (PAAS) (SVM) (EXK) (FVITF) Crushed as Silver Drops

Shares of Mag Silver Corporation (AMEX:MVG), Pan American Silver (NASDAQ:PAAS), Fortuna (OTC:FVITF.PK), Silvercorp Metals Inc. (NYSE:SVM) and Endeavour Silver (AMEX: EXK) got hammered as silver prices plunged Monday.

Gold for June delivery jumped 70 cents Monday to settle at $1,557.10 an ounce at the Comex division of the New York Mercantile Exchange. After losing 2.5 percent to drop to $1,540.30, the yellow metal rebounded to $1,577 an ounce.

Silver prices for July lost $2.51 to settle at $46.08 an ounce, after getting crushed 13 percent, as it fell as low as $42.20.

The U.S. dollar index changed directions after an rally early in the trading session Monday and was down 0.09 percent at $72.96. The U.S. dollar index was fell almost 4 percent in April and is struggling to keep from breaking below its record low of $71.

It is surprising to see gold and silver be pressured, as in April gold was up 8.92 percent and silver a whopping 28.72 percent.

One piece of financial information somewhat ignored Monday because of the hoopla surrounding the death of Osama bin Laden, was the manufacturing report concerning China in April which showed production had slowed down during the month. That should help the price of gold and silver going forward.

Silvercorp Metals closed at $12.30, falling $1.29, or 9.49 percent.

Silver Wheaton (SLW) (MGN) (SVM) (ISVLF) (CDE) Trade Mixed as Silver, Gold Break Records Again

Silver Wheaton (NYSE:SLW), Mines Management (AMEX:MGN), Silvercorp Metals Inc. (NYSE:SVM), Impact Silver (OTC:ISVLF.PK) and Coeur d'Alene Mines (NYSE:CDE) closed mixed Friday as gold price records continue be broken.

Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.

Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.

The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.

The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.

Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.

Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.