Silver X Mining (CVE:AGX) Shares Down 5% – Should You Sell?

Shares of Silver X Mining Corp. (CVE:AGX) traded down 5% during mid-day trading on Wednesday. The stock traded as low as C$0.74 and last traded at C$0.76. Approximately 594,970 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 1,115,851 shares. The stock had previously closed at C$0.80.

Analyst Ratings Changes

Several research firms have commented on AGX. Fundamental Research set a C$1.65 price objective on Silver X Mining and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Maxim Group upgraded Silver X Mining to a “strong-buy” rating in a research report on Tuesday, July 21st. Ventum Financial lifted their price target on Silver X Mining from C$1.60 to C$2.50 in a research note on Wednesday, September 23rd. Finally, Ventum Capital set a C$1.60 price target on Silver X Mining and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$1.92.

Silver X Mining Price Performance

The company has a debt-to-equity ratio of 94.11, a quick ratio of 1.12 and a current ratio of 1.97. The stock’s 50 day simple moving average is C$0.90 and its two-hundred day simple moving average is C$0.78. The firm has a market capitalization of C$223.12 million, a PE ratio of 77.00 and a beta of 3.12.

Insider Transactions at Silver X Mining

In other Silver X Mining news, Director Jose Maria Garcia Jimenez sold 65,000 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of C$0.91, for a total value of C$59,150.00. Following the completion of the sale, the director directly owned 17,060,901 shares in the company, valued at C$15,525,419.91. This represents a 0.38% decrease in their position. In the last three months, insiders sold 222,500 shares of company stock valued at $204,050. 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.