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

Discovery Silver Corp. (CVE:DSV)’s share price fell 7% on Wednesday . The company traded as low as C$1.33 and last traded at C$1.33. 392,990 shares traded 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

Separately, Scotiabank set a C$15.00 price objective on shares of Discovery Silver and gave the company an “outperform” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Discovery Silver has a consensus rating of “Buy” and a consensus target price of C$10.06.

Discovery Silver Price Performance

The company has a quick ratio of 18.89, a current ratio of 41.84 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is C$1.33 and its two-hundred day simple moving average is C$1.33. The stock has a market capitalization of C$644.74 million and a P/E ratio of -34.35.

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.