Fortuna Silver Mines Sees Unusually High Options Volume (NYSE:FSM)

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the recipient of unusually large options trading activity on Friday. Traders bought 8,951 call options on the company. This represents an increase of 339% compared to the average volume of 2,037 call options.

Fortuna Silver Mines Price Performance

Shares of FSM stock traded up $0.20 during mid-day trading on Friday, hitting $4.83. 8,948,226 shares of the stock were exchanged, compared to its average volume of 14,043,493. The company has a market cap of $1.48 billion, a PE ratio of 60.32 and a beta of 1.56. Fortuna Silver Mines has a 52-week low of $3.16 and a 52-week high of $6.36. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average of $4.64 and a 200 day moving average of $4.71.

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

Institutional Investors Weigh In On Fortuna Silver Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. purchased a new position in shares of Fortuna Silver Mines in the fourth quarter worth about $26,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Fortuna Silver Mines in the 4th quarter worth approximately $34,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $45,000. Bank of Nova Scotia acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $46,000. Finally, Private Advisor Group LLC acquired a new position in Fortuna Silver Mines during the third quarter worth $50,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FSM. Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Finally, Scotiabank lowered their price objective on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

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.