Fortuna Silver Mines (TSE:FVI) Hits New 12-Month High – Still a Buy?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$8.97 and last traded at C$8.73, with a volume of 869437 shares. The stock had previously closed at C$8.50.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FVI. Cibc World Mkts downgraded Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. National Bank Financial upgraded Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. Finally, CIBC cut Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from C$8.00 to C$7.00 in a research note on Tuesday, February 18th.

Fortuna Silver Mines Price Performance

The company has a current ratio of 1.94, a quick ratio of 1.15 and a debt-to-equity ratio of 13.30. The business’s fifty day moving average is C$7.10 and its 200 day moving average is C$6.74. The company has a market cap of C$1.93 billion, a P/E ratio of 77.49 and a beta of 1.63.

Fortuna Silver Mines Company Profile

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.