Fortuna Silver Mines (NYSE:FSM) Trading Up 3.4% – Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price was up 3.4% during trading on Friday . The stock traded as high as $4.87 and last traded at $4.86. Approximately 321,237 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 6,235,512 shares. The stock had previously closed at $4.70.

Wall Street Analyst Weigh In

Separately, Scotiabank raised their price objective on Fortuna Silver Mines from $6.00 to $6.50 and gave the company a “sector perform” rating in a research note on Monday, August 19th.

Fortuna Silver Mines Trading Up 2.6 %

The firm has a market cap of $1.51 billion, a P/E ratio of 470.47 and a beta of 1.60. The business’s 50 day moving average is $4.61 and its 200-day moving average is $4.84. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. The company had revenue of $259.97 million during the quarter. As a group, analysts forecast that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

Institutional investors and hedge funds have recently bought and sold shares of the company. Perritt Capital Management Inc. increased its holdings in shares of Fortuna Silver Mines by 40.0% in the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 3,000 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Fortuna Silver Mines by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock valued at $1,240,000 after buying an additional 3,392 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Fortuna Silver Mines during the second quarter worth about $36,000. TD Asset Management Inc lifted its holdings in Fortuna Silver Mines by 0.9% in the second quarter. TD Asset Management Inc now owns 829,101 shares of the basic materials company’s stock worth $4,054,000 after acquiring an additional 7,542 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in Fortuna Silver Mines by 11.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 96,900 shares of the basic materials company’s stock worth $360,000 after acquiring an additional 9,900 shares during the last quarter. Institutional investors and hedge funds 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.