Fortuna Silver Mines (NYSE:FSM) Reaches New 12-Month High – What’s Next?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.52 and last traded at $6.54, with a volume of 82545 shares changing hands. The stock had previously closed at $6.23.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. National Bank Financial upgraded shares of Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. Finally, Scotiabank cut their target price on shares of 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 research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fortuna Silver Mines currently has an average rating of “Hold” and a consensus target price of $6.00.

Fortuna Silver Mines Trading Up 4.5 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The business has a 50 day moving average of $5.31 and a two-hundred day moving average of $4.91. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 81.79 and a beta of 1.22.

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

Institutional Investors Weigh In On Fortuna Silver Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Fortuna Silver Mines during the 3rd quarter valued at about $1,347,000. National Bank of Canada FI boosted its position in shares of Fortuna Silver Mines by 41.9% during the third quarter. National Bank of Canada FI now owns 652,539 shares of the basic materials company’s stock valued at $3,022,000 after buying an additional 192,552 shares during the last quarter. XTX Topco Ltd bought a new stake in Fortuna Silver Mines during the third quarter worth $325,000. Public Employees Retirement System of Ohio purchased a new stake in Fortuna Silver Mines in the 3rd quarter valued at $1,765,000. Finally, Barclays PLC bought a new position in Fortuna Silver Mines during the 3rd quarter valued at $2,227,000. 33.80% of the stock is owned by institutional investors.

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.