Fortuna Silver Mines (NYSE:FSM) Shares Gap Up - Still a Buy?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI gapped up prior to trading on Monday . The stock had previously closed at $5.15, but opened at $5.35. Fortuna Silver Mines shares last traded at $5.28, with a volume of 1,049,683 shares trading hands.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their target price on Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Monday, August 19th.

Fortuna Silver Mines Stock Performance

The stock has a market capitalization of $1.61 billion, a PE ratio of -48.00 and a beta of 1.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51. The firm's 50 day moving average is $4.67 and its two-hundred day moving average is $4.90.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). The company had revenue of $259.97 million for the quarter. Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. As a group, research analysts predict that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current year.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in shares of Fortuna Silver Mines by 5.0% during the first quarter. Van ECK Associates Corp now owns 34,021,296 shares of the basic materials company's stock worth $126,896,000 after buying an additional 1,624,470 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Fortuna Silver Mines by 5.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,955,544 shares of the basic materials company's stock valued at $29,710,000 after purchasing an additional 388,903 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fortuna Silver Mines by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company's stock worth $29,865,000 after purchasing an additional 346,008 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Fortuna Silver Mines by 165.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company's stock worth $27,176,000 after purchasing an additional 3,467,562 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Fortuna Silver Mines by 12,560.3% in the second quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company's stock valued at $26,456,000 after buying an additional 5,375,811 shares during the last quarter. Institutional investors and hedge funds 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.