Fortuna Silver Mines (TSE:FVI) Upgraded by CIBC to “Neutral” Rating

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) was upgraded by investment analysts at CIBC from an “underperform” rating to a “neutral” rating in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a C$16.00 price objective on the stock, up from their prior price objective of C$9.00. CIBC’s price target would suggest a potential upside of 12.04% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. National Bankshares upgraded Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$14.25 to C$15.00 in a report on Tuesday, November 25th. Scotiabank upgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Finally, BMO Capital Markets raised their price target on shares of Fortuna Silver Mines from C$15.00 to C$17.00 in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$15.75.

Fortuna Silver Mines Trading Up 2.1%

Shares of FVI traded up C$0.30 during trading hours on Wednesday, hitting C$14.28. 902,811 shares of the stock were exchanged, compared to its average volume of 1,321,557. Fortuna Silver Mines has a fifty-two week low of C$5.99 and a fifty-two week high of C$17.14. The business has a 50-day moving average of C$14.00 and a 200-day moving average of C$12.09. The firm has a market capitalization of C$4.36 billion, a P/E ratio of 19.30 and a beta of 1.87. The company has a debt-to-equity ratio of 13.30, a current ratio of 1.94 and a quick ratio of 1.15.

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

Insiders Place Their Bets

In other Fortuna Silver Mines news, insider Luis Dario Ganoza Durant sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$13.75, for a total transaction of C$343,750.00. Following the transaction, the insider owned 381,412 shares in the company, valued at approximately C$5,244,415. This represents a 6.15% decrease in their ownership of the stock. Insiders have sold a total of 50,000 shares of company stock worth $687,360 in the last 90 days. Corporate insiders own 0.83% of the company’s stock.

About Fortuna Silver Mines

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.