Fortuna Silver Mines (NYSE:FSM) Trading Up 5.5% – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shot up 5.5% during mid-day trading on Thursday . The stock traded as high as $4.67 and last traded at $4.69. 7,316,733 shares were traded during mid-day trading, a decline of 47% from the average session volume of 13,834,760 shares. The stock had previously closed at $4.45.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FSM. Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. CIBC lowered 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 for the company in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.00.

Fortuna Silver Mines Stock Up 3.5 %

The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 57.57 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The business has a fifty day moving average of $4.63 and a 200 day moving average of $4.71.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its earnings results 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). Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. The business had revenue of $302.20 million for the quarter, compared to analyst estimates of $301.65 million. As a group, equities analysts predict that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Fortuna Silver Mines by 10.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 2,000 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Fortuna Silver Mines by 24.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 2,440 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Fortuna Silver Mines by 19.6% in the third quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 5,240 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Fortuna Silver Mines by 4.3% during the third quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after acquiring an additional 5,858 shares during the period. Finally, Optiver Holding B.V. purchased a new position in Fortuna Silver Mines during the fourth quarter worth about $26,000. 33.80% of the stock is owned by institutional investors and hedge funds.

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.