Fortuna Silver Mines Inc (TSE:FVI) (NYSE:FSM)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as C$5.35 and last traded at C$5.35, with a volume of 192559 shares traded. The stock had previously closed at C$5.51.

Several brokerages have recently commented on FVI. Canaccord Genuity reaffirmed a “buy” rating and set a C$8.50 price target on shares of Fortuna Silver Mines in a research report on Thursday, September 7th. CIBC dropped their price objective on shares of Fortuna Silver Mines from C$8.00 to C$7.50 in a research note on Thursday, October 12th. Scotiabank dropped their price objective on shares of Fortuna Silver Mines to C$7.50 and set a “sector perform” rating on the stock in a research note on Friday, October 6th. Finally, National Bank Financial dropped their price objective on shares of Fortuna Silver Mines from C$8.00 to C$7.75 and set an “outperform” rating on the stock in a research note on Wednesday, August 16th. 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 company presently has an average rating of “Buy” and an average target price of C$8.38.

In other news, Director Durant Jorge A. Ganoza purchased 76,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were bought at an average price of C$4.57 per share, for a total transaction of C$347,320.00. Also, Director Durant Jorge A. Ganoza purchased 131,800 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was purchased at an average price of C$4.51 per share, for a total transaction of C$594,418.00. Insiders acquired 214,300 shares of company stock worth $978,888 in the last 90 days.

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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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