Fortuna Silver Mines (NYSE:FSM) Price Target Raised to $7.00

Fortuna Silver Mines (NYSE:FSM - Free Report) TSE: FVI had its price objective raised by Scotiabank from $6.00 to $7.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company's stock.

A number of other equities analysts have also recently issued reports on FSM. National Bank Financial raised shares of Fortuna Silver Mines to a "hold" rating in a research report on Friday, March 21st. Cibc World Mkts lowered Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 18th. Finally, CIBC lowered Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $7.00.

Fortuna Silver Mines Price Performance

Shares of FSM stock traded down $0.14 on Monday, reaching $6.37. The company's stock had a trading volume of 11,379,929 shares, compared to its average volume of 9,366,319. The stock's 50 day simple moving average is $5.46 and its 200-day simple moving average is $4.98. Fortuna Silver Mines has a 12-month low of $3.86 and a 12-month high of $6.76. The company has a market capitalization of $1.95 billion, a P/E ratio of 79.57 and a beta of 1.22. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.09). Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. The company had revenue of $302.20 million for the quarter, compared to the consensus estimate of $301.65 million. As a group, equities analysts predict that Fortuna Silver Mines will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

Institutional investors have recently modified their holdings of the company. Optiver Holding B.V. acquired a new position in shares of Fortuna Silver Mines in the fourth quarter valued at about $26,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Fortuna Silver Mines during the fourth quarter valued at $34,000. SeaCrest Wealth Management LLC acquired a new stake in Fortuna Silver Mines in the 4th quarter worth about $45,000. Bank of Nova Scotia purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter worth approximately $46,000. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Fortuna Silver Mines by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock worth $53,000 after buying an additional 2,440 shares in the last quarter. 33.80% of the stock is currently 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.