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Fortuna Silver Mines (FVI) Receives a Buy from Canaccord Genuity


Fortuna Silver Mines (TSX: FVI), the Materials sector company was revisited on October 10, and remains undervalued for at least one analyst on the street. The company received a Buy on October 10 from Canaccord Genuity’s analyst Dalton Baretto, with a C$7.50 price target.

According to TipRanks.com, Baretto is a 4-star analyst with an average return of 5.3% and a 43.9% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Fortuna Silver Mines, and Hecla Mining Company.

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Fortuna Silver Mines has an analyst consensus of Moderate Buy, with a price target consensus of C$7.75.

Based on Fortuna Silver Mines’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$14.4 million. In comparison, last year the company had a net profit of C$12.87 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 Friday at C$5.30.