Ventum Financial Forecasts Strong Price Appreciation for Silver X Mining (CVE:AGX) Stock

Silver X Mining (CVE:AGX) had its price target raised by equities research analysts at Ventum Financial from C$1.60 to C$2.50 in a research note issued to investors on Wednesday, BayStreet reports. Ventum Financial’s price objective would suggest a potential upside of 165.96% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Maxim Group upgraded Silver X Mining to a “strong-buy” rating in a research note on Tuesday, July 21st. Fundamental Research set a C$1.65 price objective on shares of Silver X Mining and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, Ventum Capital set a C$1.60 target price on Silver X Mining and gave the stock a “buy” rating in a report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Silver X Mining has an average rating of “Buy” and a consensus price target of C$1.92.

Silver X Mining Stock Down 5.1%

Shares of CVE:AGX traded down C$0.05 during trading on Wednesday, reaching C$0.94. The stock had a trading volume of 447,103 shares, compared to its average volume of 1,163,208. The firm’s 50-day simple moving average is C$0.83 and its 200 day simple moving average is C$0.77. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 94.11. Silver X Mining has a one year low of C$0.41 and a one year high of C$1.61. The company has a market capitalization of C$272.38 million, a P/E ratio of 94.00 and a beta of 2.94.

Insider Activity at Silver X Mining

In related news, Director Jose Maria Garcia Jimenez sold 65,000 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of C$0.91, for a total transaction of C$59,150.00. Following the sale, the director directly owned 17,060,901 shares of the company’s stock, valued at C$15,525,419.91. This trade represents a 0.38% decrease in their ownership of the stock. Insiders sold a total of 222,500 shares of company stock valued at $204,050 in the last quarter. 21.57% of the stock is owned by corporate insiders.

Silver X Mining Company Profile

Silver X Mining Corp. engages in the exploration, acquisition, and development of mineral properties in the Americas. The company explores for silver, gold, lead, and zinc. It primarily holds interest in the Nueva Recuperada project located in Huancavelica, Peru. It also holds interest in the Coriorcco gold project located in Peru. The company was formerly known as Oro X Mining Corp. and changed its name to Silver X Mining Corp. in June 2021. Silver X Mining Corp. was incorporated in 2009 and is based in Vancouver, Canada.