Discovery Silver (TSE:DSV) Reaches New 12-Month High - Still a Buy?

Key Points

• Discovery Silver Corp. shares reached a new 12-month high, trading at C$5.55, significantly up from last closing at C$5.14, indicating a 6.6% increase.
• Insider transactions revealed that 2 major insiders sold 1,500,000 shares each at an average price of C$4.64, reducing their ownership by 1.69%.
• Discovery Silver is focused on developing a high-margin silver asset in Mexico, with its flagship project located in a prolific mining area in Chihuahua State.

Discovery Silver Corp. (TSE:DSV - ) shares hit a new 52-week high on Wednesday . The company traded as high as C$5.55 and last traded at C$5.54, with a volume of 3239313 shares trading hands. The stock had previously closed at C$5.14.

Discovery Silver Stock Up 6.6%

The business's fifty day moving average price is C$4.34 and its 200 day moving average price is C$3.36. The firm has a market capitalization of C$4.40 billion, a PE ratio of -220.62 and a beta of 1.86.

Insider Transactions at Discovery Silver

In other news, insider 2176423 Ontario Ltd. sold 1,500,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$4.64, for a total transaction of C$6,960,000.00. Following the transaction, the insider directly owned 87,045,498 shares in the company, valued at C$403,891,110.72. The trade was a 1.69% decrease in their ownership of the stock. Also, Director Eric Sprott sold 1,500,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$4.64, for a total transaction of C$6,960,000.00. Following the transaction, the director owned 87,045,498 shares in the company, valued at approximately C$403,891,110.72. This trade represents a 1.69% decrease in their ownership of the stock. Insiders have sold a total of 5,000,000 shares of company stock worth $22,146,000 over the last ninety days. 23.60% of the stock is currently owned by company insiders.

About Discovery Silver

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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