Fortuna Silver Mines (NYSE:FSM) Reaches New 1-Year High - Here's Why

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI's share price hit a new 52-week high during trading on Thursday . The stock traded as high as $6.76 and last traded at $6.50, with a volume of 17704603 shares trading hands. The stock had previously closed at $6.46.

Analyst Ratings Changes

A number of brokerages have weighed in on FSM. Cibc World Mkts downgraded Fortuna Silver Mines from a "hold" rating to a "strong sell" 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. Scotiabank increased their target price on shares of Fortuna Silver Mines from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Finally, CIBC downgraded shares of Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.00.

Fortuna Silver Mines Stock Down 2.5 %

The firm has a market cap of $1.89 billion, a P/E ratio of 76.88 and a beta of 1.22. The stock's 50 day simple moving average is $5.49 and its 200 day simple moving average is $5.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last issued its quarterly earnings data 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 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 the consensus estimate of $301.65 million. Research analysts anticipate that Fortuna Silver Mines Inc. will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Fortuna Silver Mines

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Fortuna Silver Mines by 616.1% in the third quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company's stock valued at $1,231,000 after acquiring an additional 218,100 shares in the last quarter. Barclays PLC bought a new position in Fortuna Silver Mines in the 3rd quarter valued at $2,227,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fortuna Silver Mines during the 4th quarter valued at $67,000. Swiss National Bank grew its position in Fortuna Silver Mines by 2.8% during the fourth quarter. Swiss National Bank now owns 618,830 shares of the basic materials company's stock valued at $2,655,000 after buying an additional 16,800 shares during the period. Finally, American Century Companies Inc. grew its position in Fortuna Silver Mines by 15.3% during the fourth quarter. American Century Companies Inc. now owns 5,038,830 shares of the basic materials company's stock valued at $21,625,000 after buying an additional 668,590 shares during the period. 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.