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

Key Points

• Discovery Silver's shares reached a new 52-week high of C$5.60 during trading, with the last recorded price being C$5.52 and a trading volume of 491,077 shares.
• Insiders, including Sprott Mining Inc., sold significant portions of their holdings, with total insider sales amounting to C$22.15 million over the past three months.
• The company is focused on developing a large-scale silver asset in Mexico, specifically the Cordero project, which is noted for its profitability and scalability in a rich mining region.

Discovery Silver Corp. (TSE:DSV - ) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$5.60 and last traded at C$5.52, with a volume of 491077 shares changing hands. The stock had previously closed at C$5.32.

Discovery Silver Price Performance

The stock has a market capitalization of C$4.39 billion, a price-to-earnings ratio of -220.22 and a beta of 1.86. The business has a fifty day moving average of C$4.51 and a 200 day moving average of C$3.46.

Insider Activity at Discovery Silver

In other Discovery Silver news, insider Sprott Mining Inc. sold 250,000 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 44,750,000 shares of the company's stock, valued at C$205,850,000. The trade was a 0.56% decrease in their ownership of the stock. Also, insider 2176423 Ontario Ltd. sold 1,500,000 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of C$4.64, for a total value of C$6,960,000.00. Following the completion of the sale, the insider directly owned 87,045,498 shares in the company, valued at approximately C$403,891,110.72. The trade was a 1.69% decrease in their position. Over the last three months, insiders have sold 5,000,000 shares of company stock worth $22,146,000. 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.

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