Fortuna Silver Mines (NYSE:FSM) Trading Up 7.8% – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) rose 7.8% during trading on Thursday . The company traded as high as $5.04 and last traded at $5.04. Approximately 5,266,051 shares changed hands during trading, a decline of 51% from the average daily volume of 10,670,787 shares. The stock had previously closed at $4.67.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut their price target on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th.

Fortuna Silver Mines Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The business’s fifty day simple moving average is $4.56 and its 200 day simple moving average is $4.68. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 63.32 and a beta of 1.55.

Institutional Investors Weigh In On Fortuna Silver Mines

Hedge funds have recently made changes to their positions in the business. Savant Capital LLC grew its position in Fortuna Silver Mines by 99.3% in the 4th quarter. Savant Capital LLC now owns 47,824 shares of the basic materials company’s stock valued at $205,000 after buying an additional 23,824 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Fortuna Silver Mines by 2.7% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company’s stock valued at $1,233,000 after acquiring an additional 7,644 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in Fortuna Silver Mines in the fourth quarter worth approximately $68,000. Euro Pacific Asset Management LLC raised its stake in shares of Fortuna Silver Mines by 1.2% in the 4th quarter. Euro Pacific Asset Management LLC now owns 4,365,085 shares of the basic materials company’s stock worth $18,792,000 after buying an additional 50,402 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Fortuna Silver Mines by 61.8% during the fourth quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company’s stock worth $95,000 after acquiring an additional 8,484 shares during the period. Institutional investors own 33.80% of the company’s stock.

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.