Fortuna Silver Mines (TSE:FVI) Reaches New 52-Week High on Analyst Upgrade

Shares of Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) 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 company 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 research firms also recently weighed in on FVI. Scotiabank raised Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. National Bankshares raised shares of Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$14.25 to C$15.00 in a research report on Tuesday, November 25th. Finally, Canaccord Genuity Group lifted their price objective on shares of Fortuna Silver Mines from C$10.50 to C$15.00 in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$13.50.

Insider Buying and Selling at Fortuna Silver Mines

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

Fortuna Silver Mines Stock Up 2.6%

The stock has a market capitalization of C$4.54 billion, a price-to-earnings ratio of 20.09 and a beta of 1.72. The company has a quick ratio of 1.15, a current ratio of 1.94 and a debt-to-equity ratio of 13.30. The stock has a 50 day moving average price of C$13.32 and a 200 day moving average price of C$11.62.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last issued its quarterly earnings data 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 during the quarter. As a group, analysts forecast that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current year.

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.