Fortuna Silver Mines (TSE:FVI) Hits New 52-Week High - Should You Buy?

Fortuna Silver Mines Inc. (TSE:FVI - Get Free Report) NYSE: FSM's share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$9.40 and last traded at C$9.28, with a volume of 320091 shares traded. The stock had previously closed at C$9.16.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. National Bank Financial raised shares of Fortuna Silver Mines to a "hold" rating in a research note 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 company from C$8.00 to C$7.00 in a research note on Tuesday, February 18th. Finally, Cibc World Mkts lowered 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 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 firm's fifty day moving average price is C$8.30 and its 200-day moving average price is C$7.40. The company has a market cap of C$2.23 billion, a P/E ratio of 89.73 and a beta of 1.63.

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.