Fortuna Silver Mines (TSE:FVI) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) from an underperform rating to a neutral rating in a report published on Wednesday morning,BayStreet.CA reports. The brokerage currently has C$16.00 price objective on the stock, up from their previous price objective of C$9.00.

A number of other equities analysts also recently issued reports on the company. Scotiabank raised Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. BMO Capital Markets upped their price objective on Fortuna Silver Mines from C$15.00 to C$17.00 in a research note on Friday, January 16th. Finally, National Bankshares upgraded Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$14.25 to C$15.00 in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Fortuna Silver Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.75.

Fortuna Silver Mines Trading Up 6.4%

TSE:FVI opened at C$14.21 on Wednesday. The stock has a fifty day moving average price of C$14.01 and a 200 day moving average price of C$12.15. 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 cap of C$4.34 billion, a PE ratio of 19.20 and a beta of 1.87. Fortuna Silver Mines has a 12-month low of C$5.99 and a 12-month high of C$17.14.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last released its earnings results on Wednesday, November 5th. The company reported C$0.17 earnings per share for the quarter. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 1.91%. The firm had revenue of C$350.00 million for the quarter. Sell-side analysts anticipate that Fortuna Silver Mines will post 0.7856273 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortuna Silver Mines

In other news, insider Luis Dario Ganoza Durant sold 25,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of C$13.75, for a total value of C$343,750.00. Following the completion of the transaction, the insider owned 381,412 shares in the company, valued at C$5,244,415. This trade represents a 6.15% decrease in their position. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $687,360. Corporate insiders own 0.83% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Mining Corp., formerly Fortuna Silver Mines Inc, is a Canada-based precious metals mining company with mines in the Latin America and West Africa regions. It has operated mines in Argentina, Burkina Faso, Cote d’Ivoire, Mexico, and Peru. Its mine products include gold, silver, lead, and zinc. Its mines and projects include Seguela Mine, Yaramoko Mine, Lindero Mine, San Jose Mine, and Caylloma Mine. The Seguela Mine is located in the Worodougou Region of the Woroba District, Cote d’Ivoire, approximately 500 km from Abidjan.