Fortuna Silver Mines (NYSE:FSM) Shares Up 4.1% - What's Next?

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI's share price traded up 4.1% on Tuesday . The company traded as high as $6.28 and last traded at $6.18. 1,194,817 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 8,701,020 shares. The stock had previously closed at $5.94.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Scotiabank reduced their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 15th. CIBC lowered Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research note on Tuesday, February 18th. Cibc World Mkts lowered Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 18th. Finally, National Bank Financial upgraded shares of Fortuna Silver Mines to a "hold" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $6.00.

Fortuna Silver Mines Stock Down 2.0 %

The firm's 50-day simple moving average is $5.06 and its 200 day simple moving average is $4.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The company has a market cap of $1.87 billion, a P/E ratio of 76.45 and a beta of 1.50.

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Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last released 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). 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 during the quarter, compared to the consensus estimate of $301.65 million. On average, research analysts forecast that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

A number of hedge funds have recently modified their holdings of FSM. PKO Investment Management Joint Stock Co bought a new stake in Fortuna Silver Mines in the fourth quarter valued at approximately $663,000. Mackenzie Financial Corp grew its holdings in shares of Fortuna Silver Mines by 224.6% in the 4th quarter. Mackenzie Financial Corp now owns 4,720,375 shares of the basic materials company's stock valued at $20,240,000 after buying an additional 3,266,096 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Fortuna Silver Mines by 71.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 651,688 shares of the basic materials company's stock valued at $2,796,000 after buying an additional 272,547 shares in the last quarter. Vanguard Capital Wealth Advisors acquired a new stake in Fortuna Silver Mines during the 4th quarter worth $67,000. Finally, Vident Advisory LLC lifted its holdings in Fortuna Silver Mines by 11.0% during the fourth quarter. Vident Advisory LLC now owns 186,703 shares of the basic materials company's stock worth $801,000 after acquiring an additional 18,523 shares in the last quarter. 33.80% of the stock is currently 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.