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

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Analysts Set New Price Targets

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

Fortuna Silver Mines Trading Up 0.7 %

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

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. The business had revenue of C$303.26 million for the quarter. Fortuna Silver Mines had a negative net margin of 3.98% and a negative return on equity of 2.02%. As a group, sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.5029656 earnings per share 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 value of C$313,375.65. In related news, 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. Also, Senior Officer David Whittle sold 5,421 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of C$4.91, for a total transaction of C$26,617.11. Insiders have sold a total of 91,516 shares of company stock valued at $634,632 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

About Fortuna Silver Mines

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.