Fortuna Silver Mines (NYSE:FSM) Shares Up 4.1% – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares rose 4.1% during trading on Tuesday . The company traded as high as $6.28 and last traded at $6.18. Approximately 1,194,817 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 8,701,020 shares. The stock had previously closed at $5.94.

Wall Street Analyst Weigh In

FSM has been the subject of several research reports. CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Scotiabank lowered their price objective 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. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Finally, National Bank Financial raised Fortuna Silver Mines to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Fortuna Silver Mines Stock Up 2.9 %

The business’s 50 day moving average is $4.92 and its 200 day moving average is $4.78. 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 stock has a market cap of $1.87 billion, a price-to-earnings ratio of 76.46 and a beta of 1.50.

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 net margin of 2.45% and a return on equity of 10.08%. 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 made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Fortuna Silver Mines in the 3rd quarter worth approximately $1,347,000. Franklin Resources Inc. increased its stake in shares of Fortuna Silver Mines by 616.1% in the third quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company’s stock worth $1,231,000 after acquiring an additional 218,100 shares during the last quarter. Barclays PLC purchased a new stake in shares of Fortuna Silver Mines during the third quarter worth $2,227,000. Public Employees Retirement System of Ohio acquired a new stake in Fortuna Silver Mines during the third quarter valued at $1,765,000. Finally, Centiva Capital LP grew its stake in Fortuna Silver Mines by 457.3% in the third quarter. Centiva Capital LP now owns 144,059 shares of the basic materials company’s stock valued at $667,000 after purchasing an additional 118,209 shares in the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

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.