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

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$6.70 and traded as high as C$7.63. Fortuna Silver Mines shares last traded at C$7.53, with a volume of 889,248 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price target on Fortuna Silver Mines from C$7.50 to C$8.00 in a report on Tuesday, July 23rd.

Fortuna Silver Mines Price Performance

The company has a 50-day simple moving average of C$6.36 and a 200-day simple moving average of C$6.70. The stock has a market cap of C$2.36 billion, a PE ratio of -39.25 and a beta of 1.63. The company has a debt-to-equity ratio of 16.12, a current ratio of 1.51 and a quick ratio of 1.15.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.22 by C($0.04). Fortuna Silver Mines had a return on equity of 1.00% and a net margin of 0.20%. The business had revenue of C$355.70 million during the quarter. Sell-side analysts anticipate that Fortuna Silver Mines Inc. will post 0.7856273 EPS for the current fiscal year.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d'Ivoire.