Fortuna Silver Mines (TSE:FVI) Sets New 52-Week High After Analyst Upgrade

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) shares reached a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from C$15.00 to C$17.00. The stock traded as high as C$15.00 and last traded at C$14.82, with a volume of 163956 shares. The stock had previously closed at C$14.49.

A number of other brokerages have also issued reports on FVI. Canaccord Genuity Group boosted their price target on Fortuna Silver Mines from C$10.50 to C$15.00 in a research report on Thursday, October 2nd. Scotiabank raised shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Finally, National Bankshares upgraded shares of Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$14.25 to C$15.00 in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$13.50.

Insider Activity at Fortuna Silver Mines

In related news, insider Luis Dario Ganoza Durant sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of C$13.73, for a total transaction of C$96,110.00. Following the completion of the sale, the insider directly owned 406,412 shares of the company’s stock, valued at C$5,580,036.76. This represents a 1.69% decrease in their ownership of the stock. In the last 90 days, insiders have sold 50,000 shares of company stock valued at $687,360. 0.83% of the stock is owned by insiders.

Fortuna Silver Mines Stock Performance

The firm’s fifty day simple moving average is C$13.39 and its 200 day simple moving average is C$11.66. The company has a market capitalization of C$4.56 billion, a price-to-earnings ratio of 20.19 and a beta of 1.72. The company has a debt-to-equity ratio of 13.30, a current ratio of 1.94 and a quick ratio of 1.15.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.17 earnings per share (EPS) for the quarter. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 1.91%. The business had revenue of C$350.00 million for the quarter. On average, sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current year.

Fortuna Silver Mines Company Profile

Fortuna Mining Corp., formerly Fortuna Silver Mines Inc, is a Canada-based precious metals mining company with mines in the Latin America and West Africa regions. It has operated mines in Argentina, Burkina Faso, Cote d’Ivoire, Mexico, and Peru. Its mine products include gold, silver, lead, and zinc. Its mines and projects include Seguela Mine, Yaramoko Mine, Lindero Mine, San Jose Mine, and Caylloma Mine. The Seguela Mine is located in the Worodougou Region of the Woroba District, Cote d’Ivoire, approximately 500 km from Abidjan.