Fortuna Silver Mines (TSE:FVI) Shares Break Below 200-Day Moving Average - Time to Sell?

Key Points

• Fortuna Silver Mines shares fell below their 200-day moving average of C$14.12, reaching C$12.54 before closing at C$12.84 on heavy volume.
• The company reported quarterly revenue of C$452.4 million and earnings of C$0.36 per share, with a 32.02% net margin and 22.20% return on equity.
• Insiders have been selling shares: company insiders sold 123,529 shares worth approximately $1.86 million over the past three months, while insiders retain just 0.83% ownership.

Fortuna Silver Mines Inc. (TSE:FVI - Get Free Report) NYSE: FSM shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$14.12 and traded as low as C$12.54. Fortuna Silver Mines shares last traded at C$12.84, with a volume of 928,870 shares trading hands.

Fortuna Silver Mines Stock Performance

The company has a market capitalization of C$3.80 billion, a price-to-earnings ratio of 10.88 and a beta of 2.68. The company has a 50 day moving average price of C$16.00 and a 200 day moving average price of C$14.12. The company has a debt-to-equity ratio of 13.25, a quick ratio of 1.15 and a current ratio of 3.00.

Fortuna Silver Mines (TSE:FVI - Get Free Report) NYSE: FSM last posted its quarterly earnings results on Wednesday, August 5th. The company reported C$0.36 earnings per share for the quarter. Fortuna Silver Mines had a return on equity of 22.20% and a net margin of 32.02%. The business had revenue of C$452.40 million for the quarter. Equities research analysts predict that Fortuna Silver Mines Inc. will post 0.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Neil Colbourne sold 4,883 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of C$14.82, for a total transaction of C$72,366.06. Following the transaction, the insider directly owned 31,000 shares of the company's stock, valued at C$459,420. This represents a 13.61% decrease in their ownership of the stock. Also, insider David Whittle sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of C$15.07, for a total value of C$226,050.00. Following the transaction, the insider directly owned 85,646 shares in the company, valued at C$1,290,685.22. The trade was a 14.90% decrease in their ownership of the stock. Insiders sold 123,529 shares of company stock valued at $1,859,717 in the last three months. Insiders own 0.83% of the company's stock.

About Fortuna Silver Mines

Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and a portfolio of exploration projects in Argentina, Côte d'Ivoire, Guinea, Guyana, and Peru, as well as the Diamba Sud Gold Project in Senegal. Sustainability is at the core of our operations and stakeholder relationships. We produce gold and silver while creating long-term shared value through efficient production, environmental stewardship, and social responsibility. For more information, please visit our website at www.fortunamining.

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