Fortuna Silver Mines (TSE:FVI) Stock Passes Above 200-Day Moving Average of $5.64

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$5.64 and traded as high as C$7.14. Fortuna Silver Mines shares last traded at C$7.09, with a volume of 236,528 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Fortuna Silver Mines from C$6.50 to C$8.00 in a report on Thursday, May 9th. National Bankshares set a C$9.00 price target on shares of Fortuna Silver Mines and gave the company a “sector perform” rating in a report on Tuesday, June 11th. CIBC raised their price target on shares of Fortuna Silver Mines from C$8.00 to C$9.25 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Finally, Canaccord Genuity Group lifted their target price on shares of Fortuna Silver Mines from C$6.00 to C$7.50 in a report on Tuesday, April 23rd.

Fortuna Silver Mines Stock Performance

The firm’s fifty day moving average price is C$7.18 and its 200-day moving average price is C$5.64. The company has a current ratio of 1.27, a quick ratio of 1.15 and a debt-to-equity ratio of 16.86. The company has a market cap of C$2.17 billion, a P/E ratio of -44.31 and a beta of 1.60.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last issued its earnings results on Tuesday, May 7th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.04 by C$0.08. Fortuna Silver Mines had a negative net margin of 3.98% and a negative return on equity of 2.02%. The business had revenue of C$303.26 million for the quarter. As a group, research analysts forecast that Fortuna Silver Mines Inc. will post 0.5029656 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Eric Chapman sold 48,900 shares of Fortuna Silver Mines stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$6.41, for a total transaction of C$313,375.65. In other Fortuna Silver Mines news, Senior Officer David Whittle sold 5,421 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of C$4.91, for a total value of C$26,617.11. Also, Senior Officer Eric Chapman sold 48,900 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$6.41, for a total transaction of C$313,375.65. In the last three months, insiders have sold 91,516 shares of company stock worth $634,632. Corporate insiders own 0.87% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d'Ivoire.