Fortuna Silver Mines (TSE:FVI) Hits New 52-Week High – Still a Buy?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$17.14 and last traded at C$17.00, with a volume of 344402 shares. The stock had previously closed at C$15.97.

Analysts Set New Price Targets

Several research firms have recently weighed in on FVI. National Bankshares upgraded shares of Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$14.25 to C$15.00 in a research report on Tuesday, November 25th. Canaccord Genuity Group increased their target price on shares of Fortuna Silver Mines from C$10.50 to C$15.00 in a research note on Thursday, October 2nd. BMO Capital Markets raised their target price on shares of Fortuna Silver Mines from C$15.00 to C$17.00 in a report on Friday, January 16th. Finally, Scotiabank upgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Fortuna Silver Mines has a consensus rating of “Hold” and a consensus price target of C$13.50.

Fortuna Silver Mines Stock Up 2.3%

The business’s 50 day simple moving average is C$13.85 and its 200 day simple moving average is C$11.92. The company has a market capitalization of C$4.91 billion, a PE ratio of 21.74 and a beta of 1.72. The company has a quick ratio of 1.15, a current ratio of 1.94 and a debt-to-equity ratio of 13.30.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.17 earnings per share (EPS) for the quarter. The business had revenue of C$350.00 million for the quarter. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 1.91%. As a group, analysts forecast that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current year.

Insider Transactions at Fortuna Silver Mines

In other news, insider Luis Dario Ganoza Durant sold 7,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$13.73, for a total value of C$96,110.00. Following the completion of the sale, the insider owned 406,412 shares in the company, valued at C$5,580,036.76. This represents a 1.69% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $687,360. 0.83% of the stock is owned by insiders.

Fortuna Silver Mines Company Profile

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.