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

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Canadian Imperial Bank of Commerce increased their price target on Discovery Silver from C$9.50 to C$12.50 in a research note on Tuesday, January 13th. Scotiabank set a C$15.00 price target on Discovery Silver and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$8.85.

Discovery Silver Stock Down 7.0%

The company has a market capitalization of C$644.74 million and a P/E ratio of -34.35. The company has a current ratio of 1.85, a quick ratio of 18.89 and a debt-to-equity ratio of 1.60. The stock has a 50 day moving average price of C$1.33 and a 200 day moving average price of 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.