Discovery Silver (CVE:DSV) Shares Down 7% – Here’s What Happened

Shares of Discovery Silver Corp. (CVE:DSV) 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank set a C$15.00 price objective on Discovery Silver and gave the company an “outperform” rating in a report on Wednesday, April 1st. Canadian Imperial Bank of Commerce raised their target price on Discovery Silver from C$9.50 to C$12.50 in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$10.06.

Discovery Silver Stock Performance

The stock has a market capitalization of C$644.74 million and a price-to-earnings ratio of -34.35. The firm has a fifty day moving average of C$1.33 and a 200 day moving average of C$1.33. 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.