Southern Silver Exploration (CVE:SSV) Shares Down 15.5% – Here’s What Happened

Southern Silver Exploration Corp. (CVE:SSV) dropped 15.5% during trading on Thursday . The company traded as low as C$0.69 and last traded at C$0.71. Approximately 1,824,673 shares were traded during trading, a decline of 14% from the average daily volume of 2,127,138 shares. The stock had previously closed at C$0.84.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.87 target price on shares of Southern Silver Exploration and gave the stock a “buy” rating in a research note on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$0.87.

Southern Silver Exploration Stock Performance

The stock has a fifty day simple moving average of C$0.72 and a two-hundred day simple moving average of C$0.45. The stock has a market cap of C$278.11 million, a PE ratio of -23.00 and a beta of 2.49.

About Southern Silver Exploration

Southern Silver Exploration Corp., an exploration stage company, engages in the acquisition, exploration, and development of precious/base metal properties in North America. The company explores for gold, silver, copper, lead, and zinc ores. Its flagship property is the Cerro Las Minitas project that comprises twenty-five mineral concessions covering an area of approximately 27,422 hectares located in Durango State, Mexico. The company was formerly known as Newcoast Silver Mines Ltd. and changed its name to Southern Silver Exploration Corp.