Fortuna Silver Mines (TSE:FVI) Reaches New 12-Month High – Time to Buy?

Shares of Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) hit a new 52-week high during trading on Friday . The company traded as high as C$9.18 and last traded at C$8.90, with a volume of 183493 shares trading hands. The stock had previously closed at C$8.69.

Analysts Set New Price Targets

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

Fortuna Silver Mines Stock Up 2.4 %

The company has a market capitalization of C$1.97 billion, a price-to-earnings ratio of 79.00 and a beta of 1.63. The company has a quick ratio of 1.15, a current ratio of 1.94 and a debt-to-equity ratio of 13.30. The firm has a 50 day moving average price of C$7.59 and a two-hundred day moving average price of C$6.95.

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.