Fortuna Silver Mines (NYSE:FSM) Shares Gap Up - Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI shares gapped up prior to trading on Wednesday . The stock had previously closed at $6.46, but opened at $6.67. Fortuna Silver Mines shares last traded at $6.65, with a volume of 1,162,370 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FSM shares. CIBC lowered Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a report on Tuesday, February 18th. Scotiabank increased their price target on shares of Fortuna Silver Mines from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Cibc World Mkts downgraded shares of Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 18th. Finally, National Bank Financial upgraded shares of Fortuna Silver Mines to a "hold" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $7.00.

Fortuna Silver Mines Trading Down 0.6 %

The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 79.13 and a beta of 1.22. The company has a 50 day moving average of $5.46 and a 200 day moving average of $4.98. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12.

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 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.09). The business had revenue of $302.20 million for the quarter, compared to the consensus estimate 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, research analysts anticipate that Fortuna Silver Mines Inc. will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Fortuna Silver Mines

Several hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in shares of Fortuna Silver Mines during the 4th quarter worth about $26,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Fortuna Silver Mines in the fourth quarter valued at approximately $34,000. SeaCrest Wealth Management LLC acquired a new stake in Fortuna Silver Mines in the fourth quarter worth $45,000. Bank of Nova Scotia bought a new position in shares of Fortuna Silver Mines during the fourth quarter worth $46,000. Finally, TD Waterhouse Canada Inc. grew its holdings 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. 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.