Fortuna Silver Mines (NYSE:FSM) Sets New 12-Month High - Should You Buy?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI hit a new 52-week high on Friday . The stock traded as high as $6.52 and last traded at $6.54, with a volume of 82545 shares traded. The stock had previously closed at $6.23.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Scotiabank boosted their price target on shares of Fortuna Silver Mines from $6.00 to $7.00 and gave the stock a "sector perform" rating in a report on Monday. Cibc World Mkts downgraded Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 18th. National Bank Financial raised Fortuna Silver Mines to a "hold" rating in a report on Friday, March 21st. Finally, CIBC cut Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $7.00.

Fortuna Silver Mines Trading Up 0.5 %

The stock has a market cap of $1.99 billion, a PE ratio of 81.14 and a beta of 1.22. The company's 50-day moving average price is $5.39 and its 200 day moving average price is $4.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94.

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Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings results on Wednesday, March 5th. The basic materials company reported $0.11 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%. On average, sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.51 EPS for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

Several hedge funds have recently made changes to their positions in FSM. Commonwealth Equity Services LLC lifted its holdings in Fortuna Silver Mines by 10.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company's stock worth $88,000 after buying an additional 2,000 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Fortuna Silver Mines by 24.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock worth $53,000 after purchasing an additional 2,440 shares in the last quarter. Toronto Dominion Bank increased its holdings in 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 purchasing an additional 5,240 shares during the period. Geode Capital Management LLC raised its position in Fortuna Silver Mines by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company's stock valued at $660,000 after purchasing an additional 5,858 shares in the last quarter. Finally, Optiver Holding B.V. purchased a new position in shares of Fortuna Silver Mines in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 33.80% of the company's stock.

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.