Fortuna Silver Mines (TSE:FVI) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$6.86 and traded as high as C$8.97. Fortuna Silver Mines shares last traded at C$8.92, with a volume of 635,538 shares changing hands.

Wall Street Analyst Weigh In

FVI has been the topic of a number of analyst reports. CIBC lowered Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from C$8.00 to C$7.00 in a report on Tuesday, February 18th. National Bank Financial upgraded Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. Finally, Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th.

Fortuna Silver Mines Price Performance

The company has a market cap of C$1.97 billion, a P/E ratio of 79.17 and a beta of 1.63. The company has a debt-to-equity ratio of 13.30, a quick ratio of 1.15 and a current ratio of 1.94. The company has a fifty day moving average price of C$7.41 and a two-hundred day moving average price of C$6.86.

About Fortuna Silver Mines

Fortuna Silver Mines Inc is engaged in precious and base metal mining and related activities in Argentina, Burkina Faso, Mexico, Peru, and Cote d’Ivoire. The company operates the open pit Lindero gold mine in northern Argentina, the underground Yaramoko mine in southwestern Burkina Faso, the underground San Jose silver and gold mine in southern Mexico, the underground Caylloma silver, lead, and zinc mine in southern Peru, and is developing the open pit Seguela gold mine in southwestern Cote d’Ivoire.