Fortuna Silver Mines (NYSE:FSM) Shares Gap Up to $4.77

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares gapped up prior to trading on Friday . The stock had previously closed at $4.77, but opened at $4.90. Fortuna Silver Mines shares last traded at $4.89, with a volume of 1,963,566 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FSM shares. TheStreet lowered Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th. StockNews.com upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Finally, Scotiabank lifted their price target on Fortuna Silver Mines from $4.00 to $4.75 and gave the company a “sector perform” rating in a research report on Monday, April 8th.

Fortuna Silver Mines Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 1.37. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -28.81 and a beta of 1.64. The company’s 50 day moving average price is $3.40 and its 200-day moving average price is $3.37.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. The company had revenue of $265.31 million during the quarter. On average, equities research analysts forecast that Fortuna Silver Mines Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP acquired a new stake in shares of Fortuna Silver Mines during the third quarter valued at approximately $26,000. Northern Trust Corp purchased a new stake in shares of Fortuna Silver Mines in the second quarter valued at $28,000. Equitable Holdings Inc. acquired a new stake in shares of Fortuna Silver Mines in the second quarter worth $32,000. Rathbones Group PLC purchased a new position in shares of Fortuna Silver Mines during the third quarter valued at $34,000. Finally, Bank of New York Mellon Corp raised its position in Fortuna Silver Mines by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 13,530 shares of the basic materials company’s stock valued at $34,000 after buying an additional 2,955 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

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 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.