Fortuna Silver Mines (NYSE:FSM) Trading 7.8% Higher - Time to Buy?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI traded up 7.8% on Thursday . The company traded as high as $5.04 and last traded at $5.04. 5,266,051 shares were traded during mid-day trading, a decline of 51% from the average session volume of 10,670,787 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

Separately, Scotiabank lowered their price objective on shares of 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.

Fortuna Silver Mines Trading Up 1.7 %

The business's 50-day simple moving average is $4.58 and its 200-day simple moving average is $4.68. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 64.45 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94.

Institutional Trading of Fortuna Silver Mines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in Fortuna Silver Mines by 2.3% in the 4th quarter. CIBC Asset Management Inc now owns 384,567 shares of the basic materials company's stock valued at $1,647,000 after acquiring an additional 8,633 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Fortuna Silver Mines by 99.3% in the 4th quarter. Savant Capital LLC now owns 47,824 shares of the basic materials company's stock worth $205,000 after purchasing an additional 23,824 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its position in Fortuna Silver Mines by 2.7% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company's stock valued at $1,233,000 after acquiring an additional 7,644 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Fortuna Silver Mines in the 4th quarter valued at $68,000. Finally, Euro Pacific Asset Management LLC increased its position in shares of Fortuna Silver Mines by 1.2% during the fourth quarter. Euro Pacific Asset Management LLC now owns 4,365,085 shares of the basic materials company's stock valued at $18,792,000 after acquiring an additional 50,402 shares during the last quarter. 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.