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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. CIBC raised their price objective on shares of Discovery Silver from C$8.00 to C$9.50 in a research report on Friday, November 14th. Cormark lifted their price objective on Discovery Silver from C$5.00 to C$6.00 in a research report on Tuesday, September 16th. Finally, Raymond James Financial lifted their price target on shares of Discovery Silver from C$5.75 to C$6.75 in a research report on Friday, October 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$6.05.

Discovery Silver Stock Down 7.0%

The firm has a market capitalization of C$644.74 million and a price-to-earnings ratio of -34.35. The business’s 50-day moving average is C$1.33 and its two-hundred day moving average is C$1.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 18.89 and a current ratio of 5.96.

Discovery Silver Company Profile

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.