Silver X Mining (CVE:AGX) Shares Down 5.8% – Here’s Why

Silver X Mining Corp. (CVE:AGX) dropped 5.8% during trading on Thursday . The stock traded as low as C$0.63 and last traded at C$0.65. Approximately 325,651 shares were traded during trading, a decline of 75% from the average daily volume of 1,325,003 shares. The stock had previously closed at C$0.69.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Maxim Group raised shares of Silver X Mining to a “strong-buy” rating in a research note on Tuesday. Fundamental Research set a C$1.49 price target on shares of Silver X Mining and gave the stock a “buy” rating in a research note on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Strong Buy” and an average price target of C$1.49.

Silver X Mining Stock Performance

The company has a quick ratio of 1.12, a current ratio of 2.17 and a debt-to-equity ratio of 99.33. The business has a 50 day moving average price of C$0.69 and a 200 day moving average price of C$0.86. The stock has a market cap of C$183.12 million, a P/E ratio of -64.00 and a beta of 2.76.

About Silver X Mining

Silver X Mining Corp. engages in the exploration, acquisition, and development of mineral properties in the Americas. The company explores for silver, gold, lead, and zinc. It primarily holds interest in the Nueva Recuperada project located in Huancavelica, Peru. It also holds interest in the Coriorcco gold project located in Peru. The company was formerly known as Oro X Mining Corp. and changed its name to Silver X Mining Corp. in June 2021. Silver X Mining Corp. was incorporated in 2009 and is based in Vancouver, Canada.