Fortuna Silver Mines (TSE:FVI) Hits New 52-Week High – Time to Buy?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$9.36 and last traded at C$9.01, with a volume of 730871 shares traded. The stock had previously closed at C$9.04.

Analysts Set New Price Targets

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

Fortuna Silver Mines Stock 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 firm has a market capitalization of C$1.99 billion, a PE ratio of 79.97 and a beta of 1.63. The stock’s 50 day moving average price is C$7.71 and its two-hundred day moving average price is C$7.02.

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.