Fortuna Silver Mines Inc (FVI) Reaches New 1-Year Low Following Analyst Downgrade

Fortuna Silver Mines Inc (TSE:FVI) (NYSE:FSM) shares hit a new 52-week low during trading on Friday after National Bank Financial lowered their price target on the stock from C$8.00 to C$7.50. National Bank Financial currently has an outperform rating on the stock. Fortuna Silver Mines traded as low as C$5.24 and last traded at C$5.31, with a volume of 252464 shares trading hands. The stock had previously closed at C$5.48.

A number of other brokerages also recently commented on FVI. Scotiabank reduced their price target on Fortuna Silver Mines to C$7.50 and set a “sector perform” rating for the company in a report on Friday, October 6th. CIBC reduced their price target on Fortuna Silver Mines from C$9.00 to C$8.00 in a report on Wednesday, August 16th. Finally, Canaccord Genuity reissued a “buy” rating and issued a C$8.50 price target on shares of Fortuna Silver Mines in a report on Thursday, September 7th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Fortuna Silver Mines currently has a consensus rating of “Buy” and an average price target of C$8.33.

In other news, insider Gordon Jang bought 5,000 shares of Fortuna Silver Mines stock in a transaction on Thursday, October 12th. The shares were bought at an average price of C$5.75 per share, with a total value of C$28,750.00. Also, Director Durant Jorge A. Ganoza bought 76,000 shares of Fortuna Silver Mines stock in a transaction on Wednesday, October 4th. The shares were purchased at an average cost of C$4.57 per share, for a total transaction of C$347,320.00. In the last ninety days, insiders have acquired 214,300 shares of company stock worth $978,888.

TRADEMARK VIOLATION WARNING: “Fortuna Silver Mines Inc (FVI) Reaches New 1-Year Low Following Analyst Downgrade” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/11/12/fortuna-silver-mines-inc-fvi-reaches-new-1-year-low-following-analyst-downgrade.html.

About Fortuna Silver Mines

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

Receive News & Ratings for Fortuna Silver Mines Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortuna Silver Mines Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply