Fortuna Silver Mines (TSE:FVI) Shares Up 9.1% – Should You Buy?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) shot up 9.1% during mid-day trading on Thursday . The company traded as high as C$14.81 and last traded at C$14.68. 197,521 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,160,157 shares. The stock had previously closed at C$13.46.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FVI. Canadian Imperial Bank of Commerce raised shares of Fortuna Silver Mines from an “underperform” rating to a “neutral” rating and increased their price target for the stock from C$9.00 to C$16.00 in a research report on Wednesday, February 4th. BMO Capital Markets increased their price target on shares of Fortuna Silver Mines from C$15.00 to C$17.00 in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$15.75.

Fortuna Silver Mines Stock Performance

The stock has a market cap of C$4.49 billion, a P/E ratio of 13.92 and a beta of 2.62. The firm’s 50-day moving average is C$14.47 and its two-hundred day moving average is C$13.85. The company has a quick ratio of 1.15, a current ratio of 3.17 and a debt-to-equity ratio of 11.81.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.50 earnings per share for the quarter. The firm had revenue of C$476.14 million for the quarter. Fortuna Silver Mines had a net margin of 31.11% and a return on equity of 20.79%. As a group, research analysts expect that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current year.

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.