Fortuna Silver Mines (NYSE:FSM) Price Target Lowered to $6.00 at Scotiabank

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI had its target price dropped by equities researchers at Scotiabank from $6.75 to $6.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "sector perform" rating on the basic materials company's stock. Scotiabank's price objective suggests a potential upside of 33.93% from the company's previous close. Scotiabank also issued estimates for Fortuna Silver Mines' FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.46 EPS.

Fortuna Silver Mines Trading Down 1.8 %

Fortuna Silver Mines stock traded down $0.08 during mid-day trading on Wednesday, hitting $4.48. 14,102,435 shares of the company's stock were exchanged, compared to its average volume of 10,276,484. Fortuna Silver Mines has a fifty-two week low of $2.63 and a fifty-two week high of $6.36. 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 firm has a market capitalization of $1.38 billion, a P/E ratio of 56.01 and a beta of 1.55. The company's 50 day simple moving average is $4.63 and its 200-day simple moving average is $4.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FSM. D. E. Shaw & Co. Inc. lifted its stake in Fortuna Silver Mines by 165.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company's stock valued at $27,176,000 after acquiring an additional 3,467,562 shares in the last quarter. Renaissance Technologies LLC grew its position in Fortuna Silver Mines by 94.9% in the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company's stock valued at $25,173,000 after purchasing an additional 2,507,249 shares in the last quarter. American Century Companies Inc. increased its stake in Fortuna Silver Mines by 28.2% in the 2nd quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company's stock valued at $23,664,000 after buying an additional 1,065,370 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Fortuna Silver Mines by 273.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company's stock worth $6,180,000 after buying an additional 925,084 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Fortuna Silver Mines by 323.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company's stock valued at $5,005,000 after acquiring an additional 821,495 shares in 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.