Discovery Silver (TSE:DSV) Reaches New 1-Year High - Still a Buy?

Key Points

• Discovery Silver Corp. shares reached a new 52-week high of C$5.49 during trading, closing at C$5.40 with a market cap of C$4.33 billion.
• Director Eric Sprott sold 1.5 million shares at C$4.64, reducing his ownership by 1.69%, while insiders collectively sold 5 million shares valued at over C$22 million in the last quarter.
• The company's flagship Cordero project in Mexico is a large-scale, high-margin silver asset situated in a major mining belt.

Discovery Silver Corp. (TSE:DSV - ) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$5.49 and last traded at C$5.40, with a volume of 769548 shares trading hands. The stock had previously closed at C$5.21.

Discovery Silver Price Performance

The company has a market cap of C$4.33 billion, a price-to-earnings ratio of -217.40 and a beta of 1.92. The business has a 50 day simple moving average of C$4.09 and a 200 day simple moving average of C$3.21.

Insiders Place Their Bets

In other Discovery Silver news, Director Eric Sprott sold 1,500,000 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$4.64, for a total value of C$6,960,000.00. Following the transaction, the director owned 87,045,498 shares of the company's stock, valued at approximately C$403,891,110.72. The trade was a 1.69% decrease in their ownership of the stock. Also, insider Sprott Mining Inc. sold 250,000 shares of the business's stock in a transaction on Thursday, September 11th. The stock was 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. Over the last quarter, insiders have sold 5,000,000 shares of company stock valued at $22,146,000. 23.60% of the stock is currently owned by corporate insiders.

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.

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