Fortuna Silver Mines (NYSE:FSM) Trading Up 7.1% - What's Next?

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI was up 7.1% during mid-day trading on Friday . The company traded as high as $5.00 and last traded at $4.99. Approximately 3,152,864 shares changed hands during trading, a decline of 49% from the average daily volume of 6,226,076 shares. The stock had previously closed at $4.66.

Wall Street Analysts Forecast Growth

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

Fortuna Silver Mines Trading Up 10.4 %

The company's fifty day moving average price is $4.67 and its two-hundred day moving average price is $4.89. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -46.77 and a beta of 1.60.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last released its quarterly earnings results 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 business had revenue of $259.97 million for the quarter. Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. Research analysts expect that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Perritt Capital Management Inc. lifted its holdings in Fortuna Silver Mines by 40.0% during the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company's stock worth $39,000 after buying an additional 3,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Fortuna Silver Mines by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company's stock valued at $1,240,000 after acquiring an additional 3,392 shares during the period. Banque Cantonale Vaudoise bought a new position in Fortuna Silver Mines in the second quarter valued at about $36,000. TD Asset Management Inc boosted its holdings in Fortuna Silver Mines by 0.9% in the second quarter. TD Asset Management Inc now owns 829,101 shares of the basic materials company's stock valued at $4,054,000 after acquiring an additional 7,542 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its position in Fortuna Silver Mines by 11.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 96,900 shares of the basic materials company's stock worth $360,000 after purchasing an additional 9,900 shares during the period. 33.80% of the stock is owned by institutional investors.

Fortuna Silver Mines Company Profile

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.