Fortuna Silver Mines (NYSE:FSM) Stock Price Up 5.5% – What’s Next?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was up 5.5% on Thursday . The stock traded as high as $4.67 and last traded at $4.69. Approximately 7,316,733 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 13,834,760 shares. The stock had previously closed at $4.45.

Analysts Set New Price Targets

FSM has been the subject of a number of research reports. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th. Scotiabank cut their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. Finally, Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Fortuna Silver Mines has an average rating of “Hold” and a consensus price target of $6.00.

Fortuna Silver Mines Trading Up 3.5 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 57.57 and a beta of 1.56. The business’s 50-day moving average price is $4.63 and its two-hundred day moving average price is $4.71.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The business had revenue of $302.20 million for the quarter, compared to analysts’ expectations of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. Equities analysts expect that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Silver Mines

A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its holdings in shares of Fortuna Silver Mines by 10.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 2,000 shares during the period. TD Waterhouse Canada Inc. increased its position in Fortuna Silver Mines by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 2,440 shares during the last quarter. Toronto Dominion Bank raised its stake in Fortuna Silver Mines by 19.6% during the third quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 5,240 shares during the period. Geode Capital Management LLC raised its stake in Fortuna Silver Mines by 4.3% during the third quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after purchasing an additional 5,858 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of Fortuna Silver Mines in the 4th quarter valued at $26,000. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

Fortuna Mining Corp. 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.