Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued on Friday, The Fly reports.
Several other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Zacks Investment Research cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Scotiabank raised shares of Fortuna Silver Mines from a “sector perform” rating to a “sector outperform” rating and set a $5.00 price target on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Fortuna Silver Mines currently has a consensus rating of “Hold” and a consensus target price of $4.75.
FSM traded down $0.06 on Friday, hitting $3.40. 164,870 shares of the company’s stock were exchanged, compared to its average volume of 2,731,679. Fortuna Silver Mines has a fifty-two week low of $2.39 and a fifty-two week high of $4.59. The company has a current ratio of 1.66, a quick ratio of 1.47 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $3.96 and a 200-day moving average price of $3.32. The stock has a market cap of $591.47 million, a price-to-earnings ratio of 14.17 and a beta of 0.34.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $67.91 million for the quarter. Fortuna Silver Mines had a net margin of 8.75% and a return on equity of 4.43%. On average, equities analysts predict that Fortuna Silver Mines will post 0.16 EPS for the current year.
Several hedge funds have recently made changes to their positions in FSM. Newfoundland Capital Management acquired a new position in shares of Fortuna Silver Mines during the 2nd quarter valued at about $29,000. AMP Capital Investors Ltd purchased a new stake in Fortuna Silver Mines in the 2nd quarter valued at about $44,000. HighTower Advisors LLC purchased a new stake in Fortuna Silver Mines in the 2nd quarter valued at about $64,000. Quantitative Systematic Strategies LLC raised its holdings in Fortuna Silver Mines by 92.9% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 30,728 shares of the basic materials company’s stock valued at $88,000 after buying an additional 14,795 shares during the period. Finally, Capital Wealth Planning LLC purchased a new stake in Fortuna Silver Mines in the 2nd quarter valued at about $90,000. 38.74% of the stock is currently owned by hedge funds and other institutional investors.
Fortuna Silver Mines Company Profile
Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.
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