Fortuna Silver Mines (TSE:FVI) Shares Break Below 200-Day Moving Average – Here’s What Happened

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) shares passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$14.12 and traded as low as C$12.54. Fortuna Silver Mines shares last traded at C$12.84, with a volume of 928,870 shares changing hands.

Fortuna Silver Mines Stock Performance

The company has a quick ratio of 1.15, a current ratio of 3.00 and a debt-to-equity ratio of 13.25. The firm has a market capitalization of C$3.80 billion, a P/E ratio of 10.88 and a beta of 2.68. The stock has a fifty day moving average of C$16.00 and a 200-day moving average of C$14.12.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last released its earnings results on Wednesday, August 5th. The company reported C$0.36 earnings per share (EPS) for the quarter. Fortuna Silver Mines had a return on equity of 22.20% and a net margin of 32.02%. The business had revenue of C$452.40 million for the quarter. On average, research analysts anticipate that Fortuna Silver Mines Inc. will post 0.79 EPS for the current year.

Insider Transactions at Fortuna Silver Mines

In other news, insider Neil Colbourne sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$14.90, for a total transaction of C$104,300.00. Following the transaction, the insider directly owned 6,000 shares of the company’s stock, valued at approximately C$89,400. This trade represents a 53.85% decrease in their ownership of the stock. Also, insider David Whittle sold 28,000 shares of Fortuna Silver Mines stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of C$15.09, for a total value of C$422,520.00. Following the completion of the transaction, the insider directly owned 35,646 shares of the company’s stock, valued at C$537,898.14. This represents a 43.99% decrease in their ownership of the stock. In the last quarter, insiders sold 123,529 shares of company stock worth $1,859,717. 0.83% of the stock is owned by company insiders.

About Fortuna Silver Mines

Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and a portfolio of exploration projects in Argentina, Côte d’Ivoire, Guinea, Guyana, and Peru, as well as the Diamba Sud Gold Project in Senegal. Sustainability is at the core of our operations and stakeholder relationships. We produce gold and silver while creating long-term shared value through efficient production, environmental stewardship, and social responsibility. For more information, please visit our website at www.fortunamining.