Fortuna Silver Mines (TSE:FVI) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.44 and traded as low as C$12.91. Fortuna Silver Mines shares last traded at C$13.11, with a volume of 980,288 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FVI. BMO Capital Markets increased their price target on Fortuna Silver Mines from C$15.00 to C$17.00 in a research report on Friday, January 16th. Canadian Imperial Bank of Commerce upgraded Fortuna Silver Mines from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from C$9.00 to C$16.00 in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Fortuna Silver Mines presently has an average rating of “Buy” and a consensus target price of C$15.75.

Fortuna Silver Mines Stock Performance

The business has a 50-day moving average price of C$15.15 and a 200-day moving average price of C$13.44. The company has a quick ratio of 1.15, a current ratio of 2.98 and a debt-to-equity ratio of 15.92. The firm has a market capitalization of C$4.00 billion, a price-to-earnings ratio of 14.57 and a beta of 2.26.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last posted its quarterly earnings data on Thursday, February 19th. The company reported C$0.32 earnings per share for the quarter. Fortuna Silver Mines had a return on equity of 18.47% and a net margin of 27.64%.The firm had revenue of C$357.48 million during the quarter. As a group, sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.7856273 earnings per share 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.