Discovery Silver (CVE:DSV) Shares Down 7% – Here’s Why

Shares of Discovery Silver Corp. (CVE:DSV) fell 7% during mid-day trading on Tuesday . The stock traded as low as C$1.33 and last traded at C$1.33. 392,990 shares were traded during trading, an increase of 64% from the average session volume of 239,627 shares. The stock had previously closed at C$1.43.

Analyst Upgrades and Downgrades

DSV has been the topic of several research analyst reports. CIBC upped their price objective on shares of Discovery Silver from C$9.50 to C$12.50 in a research note on Tuesday, January 13th. Raymond James Financial boosted their target price on Discovery Silver from C$5.75 to C$6.75 in a report on Friday, October 10th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$6.65.

Discovery Silver Trading Down 7.0%

The company has a current ratio of 5.96, a quick ratio of 18.89 and a debt-to-equity ratio of 0.29. The stock has a market cap of C$644.74 million and a P/E ratio of -34.35. The business’s fifty day simple moving average is C$1.33 and its 200 day simple moving average is C$1.33.

About Discovery Silver

Discovery Silver Corp., a mineral exploration company, engages in the exploration and development of polymetallic deposits. The company's flagship property is the Cordero silver project, which covers an area of approximately 35,000 hectares located in the Chihuahua state, Mexico. It also holds option agreement to purchase 100% interest in the Puerto Rico, La Kika, Minerva, Monclova, and Santa Rosa projects in Mexico. The company was formerly known as Discovery Metals Corp. and changed its name to Discovery Silver Corp.