Fortuna Silver Mines (TSE:FVI) Sets New 52-Week High – Should You Buy?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) shares reached a new 52-week high on Monday . The stock traded as high as C$18.31 and last traded at C$18.11, with a volume of 355583 shares traded. The stock had previously closed at C$16.77.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FVI shares. National Bank Financial raised shares of Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$14.25 to C$15.00 in a report on Tuesday, November 25th. Scotiabank raised shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Canadian Imperial Bank of Commerce raised Fortuna Silver Mines from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from C$9.00 to C$16.00 in a report on Wednesday, February 4th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fortuna Silver Mines has an average rating of “Buy” and an average price target of C$15.75.

Fortuna Silver Mines Stock Performance

The stock’s 50 day simple moving average is C$14.36 and its two-hundred day simple moving average is C$12.59. The company has a market capitalization of C$5.45 billion, a P/E ratio of 24.14 and a beta of 1.87. The company has a debt-to-equity ratio of 13.30, a current ratio of 1.94 and a quick ratio of 1.15.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last issued its quarterly earnings results on Wednesday, February 18th. The company reported C$0.32 earnings per share 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$357.48 million during the quarter. As a group, research analysts expect that Fortuna Silver Mines Inc. will post 0.7856273 earnings per share for the current year.

Insider Activity at Fortuna Silver Mines

In other news, insider Luis Dario Ganoza Durant sold 7,000 shares of Fortuna Silver Mines stock in a transaction on 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 completion of the sale, the insider directly owned 406,412 shares of the company’s stock, valued at approximately C$5,580,036.76. This trade represents a 1.69% decrease in their position. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $687,360. 0.83% of the stock is currently owned by company insiders.

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.