Discovery Silver (TSE:DSV) Reaches New 1-Year High - Here's What Happened

Key Points

• Discovery Silver Corp. shares reached a new 52-week high of C$4.61, closing at C$4.43 with a trading volume of 845,305 shares.
• Raymond James Financial upgraded the stock to a "moderate buy" rating, contributing to an overall average rating of "Strong Buy" by analysts.
• The company's market capitalization stands at C$3.61 billion, with a significant focus on its flagship silver asset, the Cordero project, located in Chihuahua, Mexico.

Discovery Silver Corp. (TSE:DSV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$4.61 and last traded at C$4.43, with a volume of 845305 shares traded. The stock had previously closed at C$4.49.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial upgraded shares of Discovery Silver to a "moderate buy" rating in a research note on Monday, May 26th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Discovery Silver currently has a consensus rating of "Strong Buy".

Discovery Silver Trading Up 7.8%

The firm has a market capitalization of C$3.98 billion, a P/E ratio of -199.69 and a beta of 1.92. The business's 50 day simple moving average is C$3.73 and its two-hundred day simple moving average is C$2.97.

Insider Buying and Selling at Discovery Silver

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