Fortuna Silver Mines (FVI), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. CIBC’s analyst Cosmos Chiu reiterates their Buy rating on the shares, with a C$7.50 price target.
According to TipRanks.com, Chiu is a 4-star analyst with an average return of 6.4% and a 48.5% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Detour Gold Corporation, and Kirkland Lake Gold Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fortuna Silver Mines with a C$8.25 average price target, which is a 77.4% upside from current levels. In a report issued on January 7, Canaccord Genuity also reiterated a Buy rating on the stock with a C$8.75 price target.
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Based on Fortuna Silver Mines’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$8.96 million. In comparison, last year the company had a net profit of C$43.4 million.
Fortuna Silver Mines, Inc. engages in the exploration, extraction and processing of precious and base metal in Latin America. It operates through the following business segments: Bateas, Cuzcatlan, Lindero, and Corporate. The Beates segment operates the Caylloma silver, lead, and zinc mine. The Cuzcatlan segment handles the San Jose silver-gold mine.
The company’s shares closed on Thursday at C$4.65, close to its 52-week low of C$4.22.
