Fortuna Silver Mines (TSE:FVI) Raised to “Neutral” at CIBC

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) was upgraded by equities research analysts at CIBC from an “underperform” rating to a “neutral” rating in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a C$16.00 price objective on the stock, up from their previous price objective of C$9.00. CIBC’s price objective indicates a potential upside of 19.76% from the company’s previous close.

Other analysts have also issued reports about the company. National Bankshares upgraded Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$14.25 to C$15.00 in a research note on Tuesday, November 25th. BMO Capital Markets upped their price target on Fortuna Silver Mines from C$15.00 to C$17.00 in a research report on Friday, January 16th. Finally, Scotiabank upgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortuna Silver Mines currently has a consensus rating of “Hold” and a consensus target price of C$15.75.

Fortuna Silver Mines Stock Performance

Shares of FVI stock opened at C$13.36 on Wednesday. The firm’s 50 day moving average is C$14.01 and its 200 day moving average is C$12.11. The stock has a market capitalization of C$4.08 billion, a P/E ratio of 18.05 and a beta of 1.87. Fortuna Silver Mines has a 12 month low of C$5.99 and a 12 month high of C$17.14. The company has a current ratio of 1.94, a quick ratio of 1.15 and a debt-to-equity ratio of 13.30.

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

Insider Activity at Fortuna Silver Mines

In related news, insider Luis Dario Ganoza Durant sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of C$13.75, for a total value of C$343,750.00. Following the transaction, the insider directly owned 381,412 shares in the company, valued at approximately C$5,244,415. This represents a 6.15% decrease in their ownership of the stock. Insiders sold a total of 50,000 shares of company stock worth $687,360 over the last ninety days. 0.83% of the stock is currently owned by insiders.

About Fortuna Silver Mines

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.