NUPMF - Silvercorp Tries To Go Out Of China
Silvercorp Metals (SVM) is a mid-sized silver and base metals producer operating two mines in China. Interestingly, despite being the lowest-cost producer in the entire industry, the company is one of the cheapest silver plays. For example, today, Silvercorp's shares are trading at an EV/EBITDA multiple of 4.4, well below its popular peers as Fortuna Silver (FSM) (6.1), First Majestic (AG) (26.1) or Endeavour Silver (EXK) (12.2). I suspect that the country where Silvercorp operates (China) is the main reason standing behind this occurrence.
On the other hand, in the long term, the shares of