Fortuna Silver Mines (NYSE:FSM) Shares Gap Up – Should You Buy?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) gapped up prior to trading on Monday . The stock had previously closed at $4.68, but opened at $4.89. Fortuna Silver Mines shares last traded at $4.88, with a volume of 685,178 shares trading hands.

Analysts Set New Price Targets

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

Fortuna Silver Mines Trading Down 0.7 %

The firm’s fifty day simple moving average is $4.84 and its 200 day simple moving average is $4.94. The stock has a market capitalization of $1.51 billion, a P/E ratio of 60.32 and a beta of 1.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94.

Institutional Trading of Fortuna Silver Mines

Several large investors have recently made changes to their positions in the company. Toronto Dominion Bank lifted its stake in Fortuna Silver Mines by 19.6% during the third quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 5,240 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Fortuna Silver Mines by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after buying an additional 5,858 shares in the last quarter. Barclays PLC bought a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth $2,227,000. Public Employees Retirement System of Ohio acquired a new stake in Fortuna Silver Mines in the third quarter valued at about $1,765,000. Finally, XTX Topco Ltd bought a new position in Fortuna Silver Mines in the third quarter valued at about $325,000. Institutional investors and hedge funds 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.