CIBC Cuts Fortuna Silver Mines Inc (FVI) Price Target to C$7.50
Fortuna Silver Mines Inc (TSE:FVI) (NYSE:FSM) had its target price decreased by investment analysts at CIBC from C$8.00 to C$7.50 in a report released on Thursday. CIBC’s price objective indicates a potential upside of 29.53% from the stock’s previous close.
A number of other analysts also recently issued reports on the company. Scotiabank reduced their price objective on Fortuna Silver Mines to C$7.50 and set a “sector perform” rating on the stock in a research note on Friday, October 6th. Canaccord Genuity reaffirmed a “buy” rating and issued a C$8.50 price objective on shares of Fortuna Silver Mines in a research note on Thursday, September 7th. Finally, National Bank Financial reduced their price objective on Fortuna Silver Mines from C$8.00 to C$7.75 and set an “outperform” rating on the stock in a research note on Wednesday, August 16th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$8.38.
Shares of Fortuna Silver Mines (TSE FVI) traded down 1.53% during mid-day trading on Thursday, reaching $5.79. The company’s stock had a trading volume of 294,239 shares. The company’s 50-day moving average price is $5.82 and its 200-day moving average price is $6.16. The stock has a market capitalization of $921.90 million and a P/E ratio of 22.62. Fortuna Silver Mines has a 12-month low of $5.42 and a 12-month high of $10.32.
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In other Fortuna Silver Mines news, Director Durant Jorge A. Ganoza acquired 76,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was bought at an average price of C$4.57 per share, for a total transaction of C$347,320.00. Also, Director Durant Jorge A. Ganoza acquired 131,800 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were acquired at an average price of C$4.51 per share, with a total value of C$594,418.00. In the last three months, insiders have bought 208,800 shares of company stock worth $946,568.
About Fortuna Silver Mines
Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.
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