Discovery Silver (TSE:DSV) Sets New 12-Month High - Here's Why

Key Points

• Discovery Silver Corp. shares reached a new 52-week high of C$5.28, closing at C$5.27 with a trading volume of over 6.4 million shares.
• Analyst ratings have improved, with Raymond James Financial upgrading the stock to a "moderate buy," contributing to its current average rating of "Strong Buy."
• Insider activity has seen significant share sales, with one insider selling 1.5 million shares and another 250,000 shares, indicating a total of C$22.1 million in sales over the last ninety days.

Discovery Silver Corp. (TSE:DSV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$5.28 and last traded at C$5.27, with a volume of 6485140 shares changing hands. The stock had previously closed at C$4.69.

Analyst Ratings Changes

Separately, Raymond James Financial raised Discovery Silver to a "moderate buy" rating in a report on Monday, May 26th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

Discovery Silver Stock Down 4.2%

The business has a fifty day simple moving average of C$3.95 and a 200-day simple moving average of C$3.13. The firm has a market cap of C$4.05 billion, a P/E ratio of -203.31 and a beta of 1.92.

Insider Activity at Discovery Silver

In related news, Director Eric Sprott sold 250,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of C$4.60, for a total transaction of C$1,150,000.00. Following the sale, the director directly owned 44,750,000 shares of the company's stock, valued at C$205,850,000. This trade represents a 0.56% decrease in their ownership of the stock. Also, insider Sprott Mining Inc. sold 250,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$4.60, for a total value of C$1,150,000.00. Following the completion of the transaction, the insider directly owned 44,750,000 shares in the company, valued at approximately C$205,850,000. This represents a 0.56% decrease in their position. Insiders have sold 5,000,000 shares of company stock valued at $22,146,000 over the last ninety days. Insiders own 23.60% of the company's stock.

Discovery Silver Company Profile

Discovery Silver Corp is an exploration and development company building a large-scale, high-margin silver asset in Mexico. Its flagship project is the Cordero project, one of the few silver projects globally that offer margin, size, and scaleability. The project is located in a prolific mining belt in Chihuahua State, Mexico.