Fortuna Silver Mines (TSE:FVI) Announces Quarterly Earnings Results

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) released its quarterly earnings results on Wednesday. The company reported C$0.32 earnings per share (EPS) for the quarter, FiscalAI reports. Fortuna Silver Mines had a return on equity of 1.91% and a net margin of 2.45%.The company had revenue of C$357.48 million during the quarter.

Fortuna Silver Mines Stock Performance

FVI stock traded up C$0.25 during midday trading on Wednesday, hitting C$14.36. The stock had a trading volume of 1,191,565 shares, compared to its average volume of 1,294,117. Fortuna Silver Mines has a 52 week low of C$5.99 and a 52 week high of C$17.14. The firm has a market capitalization of C$4.38 billion, a price-to-earnings ratio of 19.41 and a beta of 1.87. The company has a current ratio of 1.94, a quick ratio of 1.15 and a debt-to-equity ratio of 13.30. The stock has a 50-day simple moving average of C$14.26 and a 200 day simple moving average of C$12.48.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, insider Luis Dario Ganoza Durant sold 25,000 shares of the business’s stock in a transaction 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 sale, the insider owned 381,412 shares in the company, valued at approximately C$5,244,415. The trade was a 6.15% decrease in their position. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $687,360. Corporate insiders own 0.83% of the company’s stock.

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.