Fortuna Silver Mines (TSE:FVI) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Fortuna Silver Mines Inc. (TSE:FVI - Get Free Report) NYSE: FSM shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.86 and traded as high as C$8.97. Fortuna Silver Mines shares last traded at C$8.92, with a volume of 635,538 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. 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. National Bank Financial upgraded Fortuna Silver Mines to a "hold" rating in a research report on Friday, March 21st. Finally, CIBC downgraded Fortuna Silver Mines from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from C$8.00 to C$7.00 in a report on Tuesday, February 18th.

Fortuna Silver Mines Stock Performance

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 company has a market capitalization of C$1.69 billion, a PE ratio of 67.90 and a beta of 1.63. The firm's 50-day simple moving average is C$7.50 and its 200-day simple moving average is C$6.91.

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.