Silver X Mining (CVE:AGX) Stock Price Down 7.3% – Here’s What Happened

Silver X Mining Corp. (CVE:AGX) shares traded down 7.3% during trading on Thursday. The company traded as low as C$0.67 and last traded at C$0.69. Approximately 610,420 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 1,065,726 shares. The stock had previously closed at C$0.75.

Analysts Set New Price Targets

Several research firms have weighed in on AGX. Ventum Financial lifted their target price on Silver X Mining from C$1.60 to C$2.50 in a report on Wednesday, September 23rd. Fundamental Research set a C$1.65 price target on Silver X Mining and gave the stock a “buy” rating in a report on Tuesday, August 18th. Maxim Group upgraded Silver X Mining to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Ventum Capital set a C$1.60 price target on Silver X Mining and gave the stock a “buy” rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$1.92.

Silver X Mining Trading Up 2.2%

The company has a market capitalization of C$205.73 million, a P/E ratio of 71.00 and a beta of 2.97. The business has a fifty day moving average price of C$0.83 and a 200 day moving average price of C$0.83. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 94.11.

Insider Transactions at Silver X Mining

In related news, Director Jose Maria Garcia Jimenez sold 65,000 shares of Silver X Mining stock in a transaction that occurred 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 sale, the director owned 17,060,901 shares of the company’s stock, valued at approximately C$15,525,419.91. This trade represents a 0.38% decrease in their position. Over the last quarter, insiders sold 222,500 shares of company stock valued at $204,050. 21.57% of the stock is currently owned by company insiders.

About Silver X Mining

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.