Discovery Silver (TSE:DSV) Hits New 52-Week High - Here's What Happened

Key Points

• Discovery Silver Corp reached a new 52-week high by trading at C$5.02, following a volume of 656,330 shares exchanged.
• Raymond James Financial upgraded the stock to a "moderate buy" rating, contributing to a consensus rating of "Strong Buy" among analysts.
• Insider sales included Director Eric Sprott selling 250,000 shares at an average price of C$4.60, reflecting a 0.56% decrease in ownership.

Discovery Silver Corp. (TSE:DSV - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$5.02 and last traded at C$5.02, with a volume of 656330 shares changing hands. The stock had previously closed at C$4.96.

Wall Street Analyst Weigh In

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

Discovery Silver Trading Up 3.1%

The company has a market capitalization of C$3.76 billion, a PE ratio of -188.82 and a beta of 1.92. The stock has a fifty day moving average of C$3.91 and a two-hundred day moving average of C$3.08.

Insider Activity at Discovery Silver

In related news, Director Eric Sprott sold 1,500,000 shares of the firm'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 directly owned 87,045,498 shares of the company's stock, valued at approximately C$403,891,110.72. This trade represents a 1.69% decrease in their position. Also, insider 2176423 Ontario Ltd. sold 1,500,000 shares of Discovery Silver stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 87,045,498 shares in the company, valued at C$403,891,110.72. This trade represents a 1.69% decrease in their ownership of the stock. In the last three months, insiders have sold 5,000,000 shares of company stock valued at $22,146,000. Corporate insiders own 23.60% of the company's stock.

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.