Fortuna Silver Mines (NYSE:FSM) Trading 5.5% Higher - Here's Why

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI shares rose 5.5% during trading on Thursday . The stock traded as high as $4.67 and last traded at $4.69. Approximately 7,316,733 shares were traded during trading, a decline of 47% from the average daily volume of 13,834,760 shares. The stock had previously closed at $4.45.

Analysts Set New Price Targets

FSM has been the subject of several research analyst reports. Cibc World Mkts lowered Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 18th. Scotiabank cut their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 15th. Finally, CIBC cut Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research report on Tuesday, February 18th.

Fortuna Silver Mines Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $4.65 and a 200-day moving average of $4.71. The stock has a market cap of $1.50 billion, a PE ratio of 61.32 and a beta of 1.50.

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 earnings per share 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 business had revenue of $302.20 million during the quarter, compared to analysts' expectations of $301.65 million. On average, equities analysts forecast that Fortuna Silver Mines Inc. will post 0.51 EPS for the current year.

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Institutional Investors Weigh In On Fortuna Silver Mines

Institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Fortuna Silver Mines in the 3rd quarter valued at approximately $1,347,000. Franklin Resources Inc. boosted its stake in shares of Fortuna Silver Mines by 616.1% during the 3rd quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company's stock worth $1,231,000 after acquiring an additional 218,100 shares in the last quarter. Barclays PLC purchased a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $2,227,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $1,765,000. Finally, Centiva Capital LP boosted its stake in shares of Fortuna Silver Mines by 457.3% during the 3rd quarter. Centiva Capital LP now owns 144,059 shares of the basic materials company's stock worth $667,000 after acquiring an additional 118,209 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company's stock.

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.