Fortuna Silver Mines (TSE:FVI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.38 and traded as high as C$14.39. Fortuna Silver Mines shares last traded at C$14.10, with a volume of 529,763 shares trading hands.

Wall Street Analysts Forecast Growth

FVI has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce raised Fortuna Silver Mines from an “underperform” rating to a “neutral” rating and raised their price target for the stock from C$9.00 to C$16.00 in a research note on Wednesday, February 4th. National Bank Financial raised Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$14.25 to C$15.00 in a research report on Tuesday, November 25th. Scotiabank upgraded Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Finally, BMO Capital Markets boosted their target price on shares of Fortuna Silver Mines from C$15.00 to C$17.00 in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Fortuna Silver Mines currently has a consensus rating of “Buy” and an average target price of C$15.75.

Fortuna Silver Mines Trading Down 0.1%

The stock has a market cap of C$4.30 billion, a price-to-earnings ratio of 15.67 and a beta of 2.26. The company’s fifty day moving average is C$15.34 and its two-hundred day moving average is C$13.38. The company has a quick ratio of 1.15, a current ratio of 2.98 and a debt-to-equity ratio of 15.92.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last issued its earnings results 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 business had revenue of C$357.48 million for the quarter. On average, research analysts predict that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current fiscal 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.