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

Discovery Silver Corp. (CVE:DSV) shares dropped 7% during mid-day trading on Friday . The stock traded as low as C$1.33 and last traded at C$1.33. Approximately 392,990 shares were traded during trading, an increase of 64% from the average daily volume of 239,627 shares. The stock had previously closed at C$1.43.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DSV. Raymond James Financial upped their target price on shares of Discovery Silver from C$5.75 to C$6.75 in a research note on Friday, October 10th. CIBC upped their price objective on Discovery Silver from C$8.00 to C$9.50 in a research report on Friday, November 14th. Finally, Cormark increased their price objective on Discovery Silver from C$5.00 to C$6.00 in a research note on Tuesday, September 16th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Discovery Silver presently has a consensus rating of “Buy” and a consensus target price of C$6.05.

Discovery Silver Price Performance

The company’s 50 day moving average is C$1.33 and its 200 day moving average is C$1.33. The company has a current ratio of 5.96, a quick ratio of 18.89 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of C$644.74 million and a price-to-earnings 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.