Fortuna Silver Mines (NYSE:FSM) Shares Up 6% – Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price rose 6% on Thursday . The stock traded as high as $6.12 and last traded at $6.10. Approximately 3,652,637 shares changed hands during trading, a decline of 75% from the average daily volume of 14,740,674 shares. The stock had previously closed at $5.75.

Analyst Ratings Changes

FSM has been the subject of a number of research reports. National Bank Financial upgraded Fortuna Silver Mines to a “hold” rating in a research report on Friday, March 21st. Scotiabank decreased their price target on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Finally, CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Fortuna Silver Mines Stock Performance

The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 80.95 and a beta of 1.22. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $5.34 and a two-hundred day simple moving average of $4.93.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, March 5th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The firm had revenue of $302.20 million during the quarter, compared to analyst estimates of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. As a group, sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortuna Silver Mines

Several institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth $1,347,000. Franklin Resources Inc. lifted its position in Fortuna Silver Mines by 616.1% during the 3rd quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company’s stock worth $1,231,000 after acquiring an additional 218,100 shares during the last quarter. Barclays PLC bought a new stake in Fortuna Silver Mines during the third quarter valued at about $2,227,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fortuna Silver Mines in the third quarter valued at about $1,765,000. Finally, National Bank of Canada FI increased its stake in shares of Fortuna Silver Mines by 41.9% in the third quarter. National Bank of Canada FI now owns 652,539 shares of the basic materials company’s stock worth $3,022,000 after purchasing an additional 192,552 shares during the period. 33.80% of the stock is currently owned by institutional investors.

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.