Fortuna Silver Mines (TSE:FVI) Hits New 12-Month High – Still a Buy?

Shares of Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) hit a new 52-week high on Wednesday . The company traded as high as C$8.97 and last traded at C$8.73, with a volume of 869437 shares. The stock had previously closed at C$8.50.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. National Bank Financial upgraded Fortuna Silver Mines to a “hold” rating in a report on Friday, March 21st. CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and cut their target price for the stock from C$8.00 to C$7.00 in a research note on Tuesday, February 18th. Finally, Cibc World Mkts downgraded 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 Trading Up 2.7 %

The firm has a market cap of C$1.93 billion, a price-to-earnings ratio of 77.49 and a beta of 1.63. The firm’s 50-day moving average is C$7.10 and its 200-day moving average is C$6.74. The company has a current ratio of 1.94, a quick ratio of 1.15 and a debt-to-equity ratio of 13.30.

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.