10 Best Gold Penny Stocks to Buy Now

8. Silvercorp Metals Inc. (NYSE:SVM)

Number of Hedge Fund Holders: 14

Silvercorp Metals Inc. (NYSE:SVM) is a prominent silver mining company with its main operations in China, where the Ying Mine serves as its core operation. The company produces silver, gold, lead, and zinc, focusing on growth and boosting production. Recent achievements show Silvercorp’s robust performance, with record financial results and major strides in expanding operations.

For the third quarter ending December 31, 2024, Silvercorp Metals Inc. (NYSE:SVM) posted strong results with a record $84 million in revenue, up 43% from the previous year. The company also achieved an operating cash flow of $45 million, a 90% jump year-over-year. Silver production increased 16%, reaching 1.9 million ounces. This helped the company generate a net income of $26 million, more than double the previous year’s figures, driven by higher production and metal prices. Although a small drop in zinc sales slightly reduced gains, performance stayed strong overall.

Silvercorp’s success stemmed largely from the Ying Mine expansion. The company upgraded its mill, raising daily capacity from 2,500 to 4,000 tons. Silvercorp Metals Inc. (NYSE:SVM) also finished Phase 1 of a tailings storage facility and obtained permits for its Kuanping satellite project. These advancements along with strategic investments like the El Domo Copper-Gold project in Ecuador show the company’s dedication to growing its reach and building on its success.

Silvercorp Metals Inc. (NYSE:SVM) plans to produce 6.7 to 7.2 million ounces of silver in the fiscal year 2025, supported by investments in existing operations and growth ventures. The company expects ongoing production growth from mill expansions and project development despite challenges from a weaker zinc market. With strong finances, a focus on cost control, and strategic asset investments, SVM is well-positioned to capitalize on rising metal prices and maintain its position as one of the best penny stocks.