Fortuna Silver Mines (NYSE:FSM) Hits New 12-Month High - Time to Buy?

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.50 and last traded at $6.24, with a volume of 15706570 shares trading hands. The stock had previously closed at $6.10.

Analyst Upgrades and Downgrades

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

Fortuna Silver Mines Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The business's 50 day simple moving average is $5.09 and its 200 day simple moving average is $4.85. The stock has a market cap of $1.87 billion, a P/E ratio of 76.32 and a beta of 1.50.

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Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last announced 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). The firm had revenue of $302.20 million for 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%. On average, analysts expect 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 business. Commonwealth Equity Services LLC grew 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 acquiring an additional 2,000 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Fortuna Silver Mines by 24.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock valued at $53,000 after buying an additional 2,440 shares during the period. Toronto Dominion Bank increased its position in Fortuna Silver Mines by 19.6% in the third 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 holdings in 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 worth $660,000 after purchasing an additional 5,858 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in Fortuna Silver Mines during the 4th quarter valued at about $26,000. Institutional investors 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.