Fortuna Silver Mines (TSE:FVI) Raised to Neutral at CIBC

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) was upgraded by investment analysts at CIBC from an “underperform” rating to a “neutral” rating in a report released on Wednesday,BayStreet.CA reports. The firm presently has a C$16.00 target price on the stock, up from their previous target price of C$9.00. CIBC’s price objective indicates a potential upside of 12.04% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lifted their price target on shares of Fortuna Silver Mines from C$15.00 to C$17.00 in a report on Friday, January 16th. Scotiabank raised shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Finally, National Bankshares upgraded shares of Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$14.25 to C$15.00 in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Fortuna Silver Mines presently has a consensus rating of “Hold” and a consensus price target of C$15.75.

Fortuna Silver Mines Price Performance

Shares of FVI stock traded up C$0.30 during trading hours on Wednesday, reaching C$14.28. The company’s stock had a trading volume of 902,811 shares, compared to its average volume of 1,321,557. Fortuna Silver Mines has a fifty-two week low of C$5.99 and a fifty-two week high of C$17.14. The firm’s 50 day simple moving average is C$14.00 and its 200-day simple moving average is C$12.09. 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 company has a market capitalization of C$4.36 billion, a price-to-earnings ratio of 19.30 and a beta of 1.87.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.17 earnings per share for the quarter. Fortuna Silver Mines had a return on equity of 1.91% and a net margin of 2.45%.The business had revenue of C$350.00 million for the quarter. Sell-side analysts forecast that Fortuna Silver Mines will post 0.7856273 earnings per share for the current year.

Insider Transactions at Fortuna Silver Mines

In other Fortuna Silver Mines news, insider Luis Dario Ganoza Durant sold 25,000 shares of Fortuna Silver Mines stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of C$13.75, for a total transaction of C$343,750.00. Following the transaction, the insider directly owned 381,412 shares of the company’s stock, valued at approximately C$5,244,415. The trade was a 6.15% decrease in their position. Over the last three months, insiders sold 50,000 shares of company stock worth $687,360. 0.83% of the stock is owned by company insiders.

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.