Fortuna Silver Mines (NYSE:FSM) Hits New 12-Month High – Here’s Why

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. Cibc World Mkts downgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Finally, 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 note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.00.

Fortuna Silver Mines Trading Down 2.0 %

The firm has a 50-day moving average price of $5.06 and a 200-day moving average price of $4.83. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.87 billion, a PE ratio of 76.45 and a beta of 1.50.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The company had revenue of $302.20 million for the quarter, compared to analysts’ expectations of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. As a group, equities analysts forecast that Fortuna Silver Mines Inc. will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of hedge funds have recently modified their holdings of FSM. Optiver Holding B.V. purchased a new stake in Fortuna Silver Mines in the fourth quarter worth $26,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Fortuna Silver Mines during the 4th quarter worth $34,000. SeaCrest Wealth Management LLC purchased a new stake in Fortuna Silver Mines in the 4th quarter worth about $45,000. Bank of Nova Scotia bought a new stake in Fortuna Silver Mines in the 4th quarter valued at about $46,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in Fortuna Silver Mines by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 2,440 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

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.