Discovery Silver (TSE:DSV) Sets New 52-Week High – Time to Buy?

Shares of Discovery Silver Corp. (TSE:DSV) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$6.55 and last traded at C$6.32, with a volume of 4363322 shares. The stock had previously closed at C$5.54.

Discovery Silver Trading Up 14.1%

The company has a market capitalization of C$5.07 billion, a price-to-earnings ratio of -254.44 and a beta of 1.90. The stock has a 50-day simple moving average of C$5.11 and a 200-day simple moving average of C$3.91.

Insider Activity at Discovery Silver

In related news, insider 2176423 Ontario Ltd. sold 1,500,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$4.64, for a total value of C$6,960,000.00. Following the sale, the insider directly owned 87,045,498 shares of the company’s stock, valued at C$403,891,110.72. This represents a 1.69% decrease in their ownership of the stock. Also, insider Sprott Mining Inc. sold 1,000,000 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of C$5.52, for a total transaction of C$5,520,000.00. Following the transaction, the insider owned 43,221,500 shares in the company, valued at C$238,582,680. This trade represents a 2.26% decrease in their ownership of the stock. Insiders have sold 7,000,000 shares of company stock valued at $33,186,000 over the last ninety days. Corporate insiders own 23.60% of the company’s stock.

About Discovery Silver

Discovery Silver Corp is an exploration and development company building a large-scale, high-margin silver asset in Mexico. Its flagship project is the Cordero project, one of the few silver projects globally that offer margin, size, and scaleability. The project is located in a prolific mining belt in Chihuahua State, Mexico.