Silver X Mining (CVE:AGX) Stock Price Down 5% - What's Next?

Key Points

• Silver X Mining shares fell 5% to C$0.76 during mid-day trading, with volume down 47% from the average session level.
• Analysts remain bullish, with an average “Buy” rating and a C$1.92 price target; individual targets range as high as C$2.50.
• Insiders sold 222,500 shares worth approximately C$204,050 during the last quarter, while insiders continue to own 21.57% of the company.

Silver X Mining Corp. (CVE:AGX - Get Free Report) shares traded down 5% during mid-day trading on Wednesday. The stock traded as low as C$0.74 and last traded at C$0.76. Approximately 594,970 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 1,115,851 shares. The stock had previously closed at C$0.80.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AGX. Fundamental Research set a C$1.65 price target on shares of Silver X Mining and gave the stock a "buy" rating in a research note on Tuesday, August 18th. Ventum Capital set a C$1.60 price objective on shares of Silver X Mining and gave the company a "buy" rating in a research note on Thursday, September 17th. Maxim Group upgraded shares of Silver X Mining to a "strong-buy" rating in a research note on Tuesday, July 21st. Finally, Ventum Financial lifted their target price on shares of Silver X Mining from C$1.60 to C$2.50 in a report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$1.92.

Silver X Mining Stock Performance

The company has a market capitalization of C$220.22 million, a PE ratio of 76.00 and a beta of 3.12. The business's fifty day moving average is C$0.90 and its two-hundred day moving average is C$0.78. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 94.11.

Insider Buying and Selling

In other Silver X Mining news, Director Jose Maria Garcia Jimenez sold 65,000 shares of Silver X Mining stock in a transaction on Friday, September 18th. The stock was sold at an average price of C$0.91, for a total value of C$59,150.00. Following the completion of the sale, the director owned 17,060,901 shares of the company's stock, valued at approximately C$15,525,419.91. This trade represents a 0.38% decrease in their position. In the last quarter, insiders sold 222,500 shares of company stock worth $204,050. Company insiders own 21.57% of the company's stock.

About Silver X Mining

Silver X Mining Corp. engages in the exploration, acquisition, and development of mineral properties in the Americas. The company explores for silver, gold, lead, and zinc. It primarily holds interest in the Nueva Recuperada project located in Huancavelica, Peru. It also holds interest in the Coriorcco gold project located in Peru. The company was formerly known as Oro X Mining Corp. and changed its name to Silver X Mining Corp. in June 2021. Silver X Mining Corp. was incorporated in 2009 and is based in Vancouver, Canada.

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