Fortuna Silver Mines (NYSE:FSM) Sets New 1-Year High – Still a Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.50 and last traded at $6.24, with a volume of 15706570 shares traded. The stock had previously closed at $6.10.

Analyst Ratings Changes

Several research firms have recently weighed in on FSM. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th. National Bank Financial raised Fortuna Silver Mines to a “hold” rating in a research report on Friday, March 21st. Scotiabank cut their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th. Finally, Cibc World Mkts downgraded 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, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Fortuna Silver Mines Price Performance

The business’s fifty day simple moving average is $5.06 and its 200 day simple moving average is $4.83. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 76.45 and a beta of 1.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

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

Hedge Funds Weigh In On Fortuna Silver Mines

A number of institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Fortuna Silver Mines during the third quarter worth $1,347,000. Franklin Resources Inc. increased its position in shares of Fortuna Silver Mines by 616.1% during 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 in the last quarter. Barclays PLC acquired a new stake in shares of Fortuna Silver Mines in the 3rd quarter worth about $2,227,000. Public Employees Retirement System of Ohio bought a new position in Fortuna Silver Mines in the 3rd quarter valued at about $1,765,000. Finally, Centiva Capital LP boosted its stake in Fortuna Silver Mines by 457.3% during the 3rd 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 during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

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.