Fortuna Silver Mines (NYSE:FSM) Trading 6.4% Higher

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) rose 6.4% during mid-day trading on Thursday . The stock traded as high as $4.65 and last traded at $4.63. Approximately 1,745,862 shares changed hands during trading, a decline of 71% from the average daily volume of 5,986,491 shares. The stock had previously closed at $4.35.

Analyst Upgrades and Downgrades

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

Fortuna Silver Mines Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00. The business has a 50-day moving average of $4.69 and a 200-day moving average of $4.63. The company has a market capitalization of $1.54 billion, a P/E ratio of -44.81 and a beta of 1.59.

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 (EPS) 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 firm had revenue of $259.97 million during the quarter. On average, sell-side analysts anticipate that Fortuna Silver Mines Inc. will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FSM. Sprott Inc. boosted its stake in shares of Fortuna Silver Mines by 10.0% during the fourth quarter. Sprott Inc. now owns 2,379,070 shares of the basic materials company’s stock valued at $9,171,000 after purchasing an additional 217,036 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Fortuna Silver Mines by 5.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,955,544 shares of the basic materials company’s stock worth $29,710,000 after acquiring an additional 388,903 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Fortuna Silver Mines during the fourth quarter worth approximately $171,000. BNP Paribas Financial Markets raised its stake in shares of Fortuna Silver Mines by 133,433.1% during the fourth quarter. BNP Paribas Financial Markets now owns 161,575 shares of the basic materials company’s stock valued at $624,000 after acquiring an additional 161,454 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $77,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc 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.