Fortuna Silver Mines (TSE:FVI) Sets New 12-Month High – Here’s What Happened

Shares of Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$18.31 and last traded at C$18.11, with a volume of 355583 shares. The stock had previously closed at C$16.77.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets increased their price target on shares of Fortuna Silver Mines from C$15.00 to C$17.00 in a report on Friday, January 16th. Canadian Imperial Bank of Commerce raised shares of Fortuna Silver Mines from an “underperform” rating to a “neutral” rating and upped their price objective for the company from C$9.00 to C$16.00 in a research report on Wednesday, February 4th. National Bank Financial raised Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$14.25 to C$15.00 in a research report on Tuesday, November 25th. Finally, Scotiabank raised Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. One equities research 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$15.75.

Fortuna Silver Mines Stock 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 firm has a market cap of C$5.45 billion, a P/E ratio of 24.14 and a beta of 1.87. The stock’s 50 day moving average is C$14.36 and its two-hundred day moving average is C$12.59.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last announced its quarterly earnings results on Wednesday, February 18th. The company reported C$0.32 EPS for the quarter. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 1.91%. The firm had revenue of C$357.48 million during the quarter. As a group, equities analysts predict that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current year.

Insider Buying and Selling

In other Fortuna Silver Mines news, insider Luis Dario Ganoza Durant sold 7,000 shares of the company’s 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 sale, the insider directly 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 quarter, insiders sold 50,000 shares of company stock valued at $687,360. 0.83% of the stock is owned by insiders.

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.