Fortuna Silver Mines (TSE:FVI) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.57 and traded as high as C$6.66. Fortuna Silver Mines shares last traded at C$6.63, with a volume of 985,368 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. CIBC cut Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and cut their price objective for the company from C$8.00 to C$7.00 in a research report on Tuesday, February 18th. Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th.

Fortuna Silver Mines Trading Up 6.2 %

The company has a fifty day moving average of C$6.65 and a 200-day moving average of C$6.57. 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 company has a market capitalization of C$1.46 billion, a price-to-earnings ratio of 58.85 and a beta of 1.63.

About Fortuna Silver Mines

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.