Fortuna Silver Mines (TSE:FVI) Sets New 52-Week High – Still a Buy?

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s share price reached 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 changing hands. The stock had previously closed at C$9.04.

Wall Street Analyst Weigh In

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

Fortuna Silver Mines Price Performance

The stock has a market cap of C$1.95 billion, a PE ratio of 78.37 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 company’s fifty day moving average is C$7.76 and its 200 day moving average is C$7.05.

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.