Fortuna Silver Mines Inc (TSE:FVI) (NYSE:FSM) shares shot up 1% during mid-day trading on Wednesday . The company traded as high as C$5.90 and last traded at C$5.89. 1,161,675 shares were traded during mid-day trading, an increase of 128% from the average session volume of 509,790 shares. The stock had previously closed at C$5.83.

A number of brokerages have issued reports on FVI. Scotiabank dropped their target price 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. 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. Canaccord Genuity reissued a “buy” rating and set a C$8.50 price objective on shares of Fortuna Silver Mines in a research note on Thursday, September 7th. BMO Capital Markets reissued an “outperform” rating and set a C$8.00 price objective on shares of Fortuna Silver Mines in a research note on Friday, November 17th. Finally, 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 research note on Friday, November 10th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$8.17.

In other news, Director Durant Jorge A. Ganoza bought 76,000 shares of the stock in a transaction on Wednesday, October 4th. The stock was purchased at an average cost of C$4.57 per share, with a total value of C$347,320.00. Also, Director Durant Jorge A. Ganoza bought 131,800 shares of the stock in a transaction on Monday, October 2nd. The stock was purchased at an average cost of C$4.51 per share, with a total value of C$594,418.00. Over the last three months, 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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