Fortuna Silver Mines (NYSE:FSM) Stock Price Up 7.4%

Shares of Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) rose 7.4% on Thursday . The company traded as high as $4.10 and last traded at $4.04, approximately 3,814,084 shares traded hands during mid-day trading. An increase of 137% from the average daily volume of 1,608,081 shares. The stock had previously closed at $3.76.

FSM has been the topic of a number of recent research reports. Zacks Investment Research upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Thursday, July 25th. ValuEngine upgraded Fortuna Silver Mines from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Fortuna Silver Mines currently has an average rating of “Hold” and a consensus target price of $4.50.

The stock has a fifty day simple moving average of $3.17. The firm has a market cap of $602.69 million, a price-to-earnings ratio of 16.46 and a beta of 0.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.45.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Tuesday, May 14th. The basic materials company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $59.00 million for the quarter, compared to the consensus estimate of $62.60 million. Fortuna Silver Mines had a return on equity of 4.94% and a net margin of 8.90%. The business’s revenue was down 16.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. Research analysts expect that Fortuna Silver Mines Inc will post 0.14 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Ruffer LLP bought a new stake in Fortuna Silver Mines during the first quarter worth $1,822,000. Two Sigma Advisers LP increased its position in Fortuna Silver Mines by 23.5% in the fourth quarter. Two Sigma Advisers LP now owns 305,201 shares of the basic materials company’s stock worth $1,115,000 after buying an additional 58,100 shares during the last quarter. GWM Advisors LLC increased its position in Fortuna Silver Mines by 25.6% in the first quarter. GWM Advisors LLC now owns 129,160 shares of the basic materials company’s stock worth $433,000 after buying an additional 26,360 shares during the last quarter. Geode Capital Management LLC purchased a new stake in Fortuna Silver Mines in the fourth quarter worth $183,000. Finally, Toronto Dominion Bank increased its position in Fortuna Silver Mines by 32.1% in the first quarter. Toronto Dominion Bank now owns 101,574 shares of the basic materials company’s stock worth $338,000 after buying an additional 24,662 shares during the last quarter. Institutional investors and hedge funds own 41.35% of the company’s stock.

Fortuna Silver Mines Company Profile (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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