Fortuna Silver Mines (NYSE:FSM) Trading 5.5% Higher – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was up 5.5% during trading on Tuesday . The stock traded as high as $4.81 and last traded at $4.79. Approximately 1,886,185 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 6,384,151 shares. The stock had previously closed at $4.54.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised their price objective on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the company a “sector perform” rating in a research note on Monday, August 19th.

Fortuna Silver Mines Trading Down 0.6 %

The company’s fifty day moving average is $4.85 and its two-hundred day moving average is $4.92. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 61.76 and a beta of 1.55. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Institutional Trading of Fortuna Silver Mines

Hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in Fortuna Silver Mines in the third quarter valued at approximately $29,000. Banque Cantonale Vaudoise acquired a new stake in Fortuna Silver Mines in the second quarter valued at approximately $36,000. Private Advisor Group LLC acquired a new stake in Fortuna Silver Mines in the third quarter valued at approximately $50,000. Hohimer Wealth Management LLC acquired a new stake in Fortuna Silver Mines during the second quarter worth approximately $54,000. Finally, Choreo LLC acquired a new stake in Fortuna Silver Mines during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

About Fortuna Silver Mines

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.