Fortuna Silver Mines (NYSE:FSM) Trading Up 3.8%

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) were up 3.8% during trading on Friday . The stock traded as high as $3.05 and last traded at $3.04. Approximately 154,093 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 3,234,669 shares. The stock had previously closed at $2.93.

Analysts Set New Price Targets

Several equities analysts have commented on FSM shares. National Bank Financial decreased their price target on shares of Fortuna Silver Mines from C$7.25 to C$6.75 in a research report on Friday, July 21st. Scotiabank initiated coverage on shares of Fortuna Silver Mines in a report on Tuesday, May 30th. They issued a “sector perform” rating on the stock. Finally, StockNews.com initiated coverage on shares of Fortuna Silver Mines in a report on Thursday, August 17th. They issued a “hold” rating on the stock.

Fortuna Silver Mines Price Performance

The stock’s fifty day moving average price is $3.19 and its two-hundred day moving average price is $3.40. The firm has a market capitalization of $878.58 million, a price-to-earnings ratio of -6.29 and a beta of 1.35. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.25.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). Fortuna Silver Mines had a positive return on equity of 1.92% and a negative net margin of 22.51%. The company had revenue of $158.40 million for the quarter, compared to analyst estimates of $163.00 million. Equities research analysts expect that Fortuna Silver Mines Inc. will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Fortuna Silver Mines

Several hedge funds and other institutional investors have recently bought and sold shares of FSM. Van ECK Associates Corp raised its stake in Fortuna Silver Mines by 9.9% during the 1st quarter. Van ECK Associates Corp now owns 33,098,915 shares of the basic materials company’s stock worth $126,436,000 after acquiring an additional 2,974,014 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Fortuna Silver Mines during the 1st quarter worth $10,378,000. Mackenzie Financial Corp raised its stake in Fortuna Silver Mines by 2,106.9% during the 2nd quarter. Mackenzie Financial Corp now owns 2,756,609 shares of the basic materials company’s stock worth $8,967,000 after acquiring an additional 2,631,699 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fortuna Silver Mines by 345.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,632 shares of the basic materials company’s stock worth $8,141,000 after acquiring an additional 1,657,274 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Fortuna Silver Mines by 446.2% in the second quarter. Renaissance Technologies LLC now owns 1,854,900 shares of the basic materials company’s stock valued at $5,268,000 after purchasing an additional 1,515,300 shares during the period. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine located in southern Mexico; the Lindero gold project located in Northern Argentina; Yaramoko gold mine located in south western Burkina Faso; and Séguéla gold mine located in south western Côte d'Ivoire.