Fortuna Silver Mines Inc (TSE:FVI) (NYSE:FSM) shares rose 0.6% during trading on Wednesday . The company traded as high as C$5.42 and last traded at C$5.41. Approximately 193,684 shares traded hands during trading, a decline of 62% from the average daily volume of 506,984 shares. The stock had previously closed at C$5.44.
FVI has been the subject of a number of analyst reports. CIBC cut their price target on shares of Fortuna Silver Mines from C$9.00 to C$8.00 in a research note on Wednesday, August 16th. Canaccord Genuity reaffirmed a “buy” rating and set a C$8.50 price objective on shares of Fortuna Silver Mines in a report on Thursday, September 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$8.00 price objective on shares of Fortuna Silver Mines in a report on Friday, November 17th. National Bank Financial dropped their price objective on shares of Fortuna Silver Mines from C$8.00 to C$7.50 and set an “outperform” rating for the company in a report on Friday, November 10th. Finally, Scotiabank dropped their price objective on shares of Fortuna Silver Mines to C$7.50 and set a “sector perform” rating for the company in a report on Friday, October 6th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of C$8.17.
In related news, Director Durant Jorge A. Ganoza purchased 131,800 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was acquired at an average price of C$4.51 per share, with a total value of C$594,418.00. Also, insider Gordon Jang purchased 5,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was bought at an average cost of C$5.75 per share, with a total value of C$28,750.00. In the last ninety days, insiders have bought 224,300 shares of company stock valued at $1,030,788.
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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.
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