Fortuna Silver Mines (NYSE:FSM) Trading 4.9% Higher


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Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price traded up 4.9% during mid-day trading on Thursday . The company traded as high as $7.29 and last traded at $7.29. 34,613 shares changed hands during trading, a decline of 99% from the average session volume of 3,942,321 shares. The stock had previously closed at $6.95.

A number of research analysts have issued reports on the company. CIBC lowered their price objective on Fortuna Silver Mines from $11.50 to $11.25 and set a “neutral” rating for the company in a research note on Monday, February 8th. Pi Financial cut Fortuna Silver Mines from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 20th. BMO Capital Markets lowered their price objective on Fortuna Silver Mines from $13.00 to $12.75 and set an “outperform” rating for the company in a research note on Monday, March 29th. Zacks Investment Research upgraded Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Monday, March 1st. Finally, National Bank Financial reiterated a “sector perform” rating on shares of Fortuna Silver Mines in a research note on Tuesday, February 2nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.72.

The company has a 50 day moving average price of $7.10 and a two-hundred day moving average price of $7.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.57. The stock has a market cap of $1.34 billion, a PE ratio of 53.47 and a beta of 1.12.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Tuesday, March 9th. The basic materials company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. Fortuna Silver Mines had a return on equity of 2.96% and a net margin of 8.97%. The firm had revenue of $103.50 million during the quarter. As a group, equities analysts predict that Fortuna Silver Mines Inc. will post 0.18 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Confluence Investment Management LLC bought a new stake in shares of Fortuna Silver Mines in the first quarter worth $188,000. tru Independence LLC bought a new stake in shares of Fortuna Silver Mines in the fourth quarter worth $46,000. Dimensional Fund Advisors LP grew its holdings in shares of Fortuna Silver Mines by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 509,917 shares of the basic materials company’s stock worth $4,202,000 after acquiring an additional 17,450 shares during the period. FormulaFolio Investments LLC bought a new stake in shares of Fortuna Silver Mines in the fourth quarter worth $105,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Fortuna Silver Mines by 12.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 217,110 shares of the basic materials company’s stock worth $1,783,000 after acquiring an additional 23,400 shares during the period. 34.47% of the stock is owned by institutional investors.

About Fortuna Silver Mines (NYSE:FSM)

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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