Fortuna Silver Mines (TSE:FVI) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.57 and traded as high as C$6.66. Fortuna Silver Mines shares last traded at C$6.63, with a volume of 985,368 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on FVI. CIBC lowered Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and dropped their target price for the company from C$8.00 to C$7.00 in a research report on Tuesday, February 18th. Cibc World Mkts cut shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th.

Fortuna Silver Mines Price Performance

The company has a debt-to-equity ratio of 13.30, a current ratio of 1.94 and a quick ratio of 1.15. The stock has a fifty day simple moving average of C$6.65 and a 200-day simple moving average of C$6.57. The company has a market capitalization of C$1.46 billion, a price-to-earnings ratio of 58.85 and a beta of 1.63.

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.