Fortuna Silver Mines (TSE:FVI) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.34 and traded as high as C$15.08. Fortuna Silver Mines shares last traded at C$15.06, with a volume of 613,446 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FVI shares. Canadian Imperial Bank of Commerce upgraded shares of 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. National Bank Financial upgraded shares of Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$14.25 to C$15.00 in a research note on Tuesday, November 25th. BMO Capital Markets increased their price objective on shares of Fortuna Silver Mines from C$15.00 to C$17.00 in a report on Friday, January 16th. Finally, Scotiabank upgraded Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. 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 company. Based on data from MarketBeat, Fortuna Silver Mines presently has an average rating of “Buy” and an average price target of C$15.75.

Fortuna Silver Mines Stock Up 6.6%

The firm has a market cap of C$4.60 billion, a P/E ratio of 20.35 and a beta of 1.87. The company’s 50-day simple moving average is C$14.17 and its 200 day simple moving average is C$12.36. 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 posted its earnings results on Wednesday, November 5th. The company reported C$0.17 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 firm had revenue of C$350.00 million for the quarter. Research analysts anticipate that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current fiscal year.

Insider Activity

In other news, insider Luis Dario Ganoza Durant sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$13.73, for a total transaction of C$96,110.00. Following the transaction, the insider owned 406,412 shares of the company’s stock, valued at approximately C$5,580,036.76. The trade was a 1.69% decrease in their position. Over the last three months, insiders sold 50,000 shares of company stock valued at $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.