Fortuna Silver Mines (NYSE:FSM) Trading 5.5% Higher – Still a Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price was up 5.5% on Tuesday . The stock traded as high as $4.81 and last traded at $4.79. Approximately 1,886,185 shares changed 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 Analyst Weigh In

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

Fortuna Silver Mines Stock Up 10.1 %

The company has a market capitalization of $1.57 billion, a P/E ratio of 61.01 and a beta of 1.55. The company has a 50-day moving average of $4.84 and a two-hundred day moving average of $4.93. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of institutional investors and hedge funds have recently made changes to their positions in FSM. Acadian Asset Management LLC grew its stake in shares of Fortuna Silver Mines by 12,560.3% in the 2nd quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock worth $26,456,000 after buying an additional 5,375,811 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Fortuna Silver Mines by 165.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after purchasing an additional 3,467,562 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Fortuna Silver Mines by 94.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock worth $25,173,000 after purchasing an additional 2,507,249 shares in the last quarter. American Century Companies Inc. grew its position in Fortuna Silver Mines by 28.2% during the 2nd quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock valued at $23,664,000 after purchasing an additional 1,065,370 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Fortuna Silver Mines by 273.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company’s stock valued at $6,180,000 after purchasing an additional 925,084 shares in the last quarter. 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.