Fortuna Silver Mines (NYSE:FSM) Trading 4.3% Higher – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shot up 4.3% during trading on Tuesday . The stock traded as high as $5.91 and last traded at $6.00. 1,839,127 shares were traded during trading, a decline of 78% from the average session volume of 8,483,328 shares. The stock had previously closed at $5.75.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FSM. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. Scotiabank lowered their price objective on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th. Finally, Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th.

Fortuna Silver Mines Stock Performance

The firm’s fifty day moving average is $4.76 and its 200 day moving average is $4.73. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 75.18 and a beta of 1.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued 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 net margin of 2.45% and a return on equity of 10.08%. The company had revenue of $302.20 million for the quarter, compared to analyst estimates of $301.65 million. On average, analysts predict that Fortuna Silver Mines Inc. will post 0.51 EPS for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in shares of Fortuna Silver Mines by 10.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock valued at $88,000 after purchasing an additional 2,000 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Fortuna Silver Mines by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock worth $53,000 after buying an additional 2,440 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Fortuna Silver Mines by 19.6% during the 3rd quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 5,240 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $660,000 after acquiring an additional 5,858 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in shares of Fortuna Silver Mines in the 4th quarter valued at approximately $26,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.