Discovery Silver (CVE:DSV) Trading Down 7% – What’s Next?

Discovery Silver Corp. (CVE:DSV)’s stock price traded down 7% 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.

Analysts Set New Price Targets

Separately, Scotiabank set a C$15.00 price objective on shares of Discovery Silver and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$10.06.

Discovery Silver Price Performance

The company has a 50-day simple moving average of C$1.33 and a 200-day simple moving average of C$1.33. The stock has a market cap of C$644.74 million and a PE ratio of -34.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 41.84 and a quick ratio of 18.89.

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.