Fortuna Silver Mines (TSE:FVI) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.86 and traded as high as C$8.97. Fortuna Silver Mines shares last traded at C$8.92, with a volume of 635,538 shares trading hands.

Analysts Set New Price Targets

FVI has been the topic of several recent research reports. National Bank Financial raised shares of Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. Finally, CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from C$8.00 to C$7.00 in a research note on Tuesday, February 18th.

Fortuna Silver Mines Stock Down 11.0 %

The company has a debt-to-equity ratio of 13.30, a quick ratio of 1.15 and a current ratio of 1.94. The business has a 50 day simple moving average of C$7.47 and a 200-day simple moving average of C$6.88. The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 67.63 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.