Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) had its target price dropped by investment analysts at Scotiabank from $7.00 to $6.00 in a research note issued to investors on Friday, October 6th. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective points to a potential upside of 29.03% from the company’s current price.
A number of other analysts have also recently commented on FSM. Zacks Investment Research cut Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. BidaskClub cut Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Canaccord Genuity began coverage on Fortuna Silver Mines in a research report on Thursday, September 7th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $6.75.
Fortuna Silver Mines (FSM) remained flat at $4.65 during trading on Friday. The company’s stock had a trading volume of 1,081,433 shares. Fortuna Silver Mines has a 52 week low of $4.11 and a 52 week high of $7.73. The stock has a 50 day moving average price of $4.72 and a 200-day moving average price of $4.74. The stock has a market cap of $740.39 million, a price-to-earnings ratio of 17.88 and a beta of 0.16.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Monday, August 14th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $63.90 million for the quarter, compared to the consensus estimate of $58.00 million. Fortuna Silver Mines had a return on equity of 9.08% and a net margin of 15.97%. The company’s quarterly revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Equities research analysts anticipate that Fortuna Silver Mines will post $0.29 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in Fortuna Silver Mines in the second quarter worth about $1,021,000. Raffles Associates LP bought a new position in shares of Fortuna Silver Mines in the second quarter worth about $244,000. Bank of Nova Scotia boosted its stake in shares of Fortuna Silver Mines by 103.6% in the second quarter. Bank of Nova Scotia now owns 44,498 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 22,645 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Fortuna Silver Mines by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 1,286,645 shares of the basic materials company’s stock worth $6,289,000 after acquiring an additional 42,540 shares during the period. Finally, Bluefin Trading LLC boosted its stake in shares of Fortuna Silver Mines by 14.4% in the second quarter. Bluefin Trading LLC now owns 432,142 shares of the basic materials company’s stock worth $2,113,000 after acquiring an additional 54,478 shares during the period. Institutional investors and hedge funds own 44.65% of the company’s stock.
Fortuna Silver Mines Company Profile
Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.
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