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 before the market opened on Wednesday . The stock had previously closed at $5.19, but opened at $5.46. Fortuna Silver Mines shares last traded at $5.37, with a volume of 1,245,091 shares traded.

Analysts Set New Price Targets

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

Fortuna Silver Mines Price Performance

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 company has a 50 day moving average price of $5.34 and a 200 day moving average price of $4.93. The firm has a market cap of $1.99 billion, a PE ratio of 80.89 and a beta of 1.22.

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Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last announced 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 for the quarter, compared to analysts' expectations of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. Sell-side analysts expect 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 modified their holdings of the business. Optiver Holding B.V. acquired a new position in Fortuna Silver Mines during the fourth quarter worth $26,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Fortuna Silver Mines during the 4th quarter worth $34,000. SeaCrest Wealth Management LLC purchased a new position in shares of Fortuna Silver Mines in the 4th quarter valued at about $45,000. Bank of Nova Scotia purchased a new position in shares of Fortuna Silver Mines in the 4th quarter valued at about $46,000. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Fortuna Silver Mines by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 2,440 shares during the period. 33.80% of the stock is owned by institutional investors and hedge funds.

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.