BMO Capital Markets Reiterates Market Perform on Silvercorp Metals

BMO Capital Markets maintains its Market Perform rating on Silvercorp Metals (NYSE: SVM) as the company posts LM Mine results and increases its drilling capacity with its Shaft 900 now operational.

BMO Capital Markets notes, "SVM reported 2011 underground drill results from the LM Mine, Henan, China. The program consisted of 12.7km of exploration drilling. SVM also reported that Shaft 900 is now complete and operational. Given the increase in capacity, the company is now using semi-mechanized mucking techniques."

SVM closed at $7.19 a share on Friday.