Fortuna Silver Mines (NYSE:FSM) Trading 4.1% Higher – What’s Next?

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

Wall Street Analysts Forecast Growth

FSM has been the topic of several analyst reports. National Bank Financial raised shares of Fortuna Silver Mines to a “hold” rating in a research report on Friday. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th. Scotiabank reduced their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. Finally, CIBC downgraded Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

Fortuna Silver Mines Stock Performance

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

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

Hedge Funds Weigh In On Fortuna Silver Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Fortuna Silver Mines in the 3rd quarter valued at $1,347,000. Franklin Resources Inc. raised 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 valued at $1,231,000 after buying an additional 218,100 shares during the last quarter. Barclays PLC bought a new stake in shares of Fortuna Silver Mines in the third quarter valued at about $2,227,000. Public Employees Retirement System of Ohio acquired a new stake in Fortuna Silver Mines during the third quarter worth about $1,765,000. Finally, Centiva Capital LP increased its stake in Fortuna Silver Mines by 457.3% during the third quarter. Centiva Capital LP now owns 144,059 shares of the basic materials company’s stock valued at $667,000 after acquiring an additional 118,209 shares during the period. 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.