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

Discovery Silver Corp. (CVE:DSV)’s share price dropped 7% during trading on Tuesday . The company traded as low as C$1.33 and last traded at C$1.33. Approximately 392,990 shares traded hands during trading, an increase of 64% from the average daily volume of 239,627 shares. The stock had previously closed at C$1.43.

Analysts Set New Price Targets

Separately, Canadian Imperial Bank of Commerce raised their price objective on shares of Discovery Silver from C$9.50 to C$12.50 in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$6.65.

Discovery Silver Price Performance

The firm has a 50 day moving average of C$1.33 and a two-hundred day moving average of C$1.33. The company has a market cap of C$644.74 million and a PE ratio of -34.35. The company has a current ratio of 5.96, a quick ratio of 18.89 and a debt-to-equity ratio of 0.29.

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.