Fortuna Silver Mines Inc. (NYSE:FSM – Get Free Report) (TSE:FVI)’s share price rose 5.7% on Wednesday . The stock traded as high as $5.23 and last traded at $5.22. Approximately 2,200,238 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 6,341,917 shares. The stock had previously closed at $4.94.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on FSM. StockNews.com upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Scotiabank upped their price target on shares of Fortuna Silver Mines from $4.75 to $6.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd.
Get Our Latest Analysis on FSM
Fortuna Silver Mines Trading Down 1.3 %
Fortuna Silver Mines (NYSE:FSM – Get Free Report) (TSE:FVI) last posted its quarterly earnings results on Tuesday, May 7th. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $224.95 million during the quarter. Fortuna Silver Mines had a negative net margin of 3.94% and a positive return on equity of 6.04%. As a group, equities analysts forecast that Fortuna Silver Mines Inc. will post 0.37 earnings per share for the current year.
Institutional Investors Weigh In On Fortuna Silver Mines
Several institutional investors and hedge funds have recently modified their holdings of FSM. Perritt Capital Management Inc. raised its holdings in shares of Fortuna Silver Mines by 40.0% during the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 3,000 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Fortuna Silver Mines during the first quarter valued at $56,000. B. Riley Wealth Advisors Inc. bought a new position in Fortuna Silver Mines during the fourth quarter valued at $77,000. Daiwa Securities Group Inc. purchased a new position in shares of Fortuna Silver Mines in the 1st quarter worth $77,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Fortuna Silver Mines in the 1st quarter worth about $78,000. Institutional investors own 33.80% of the company’s stock.
Fortuna Silver Mines Company Profile
Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d'Ivoire.
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