Traders Buy Large Volume of Call Options on Fortuna Silver Mines (NYSE:FSM)

Fortuna Silver Mines Inc. (NYSE:FSMGet Free Report) (TSE:FVI) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 3,869 call options on the company. This represents an increase of approximately 33% compared to the typical volume of 2,905 call options.

Fortuna Silver Mines Stock Down 14.3 %

Fortuna Silver Mines stock opened at $5.07 on Thursday. The firm has a market capitalization of $1.55 billion, a P/E ratio of -46.09 and a beta of 1.61. The company has a 50-day simple moving average of $5.00 and a 200-day simple moving average of $3.97. Fortuna Silver Mines has a one year low of $2.58 and a one year high of $6.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.76 and a current ratio of 1.27.

Fortuna Silver Mines (NYSE:FSMGet Free Report) (TSE:FVI) last posted its quarterly earnings data on Tuesday, May 7th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. The business had revenue of $224.95 million during the quarter. Fortuna Silver Mines had a negative net margin of 3.94% and a positive return on equity of 6.04%. As a group, equities analysts expect that Fortuna Silver Mines will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Coppell Advisory Solutions Corp. acquired a new stake in Fortuna Silver Mines in the 1st quarter valued at about $56,000. Tidal Investments LLC lifted its holdings in Fortuna Silver Mines by 11,698.0% in the 1st quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock valued at $18,081,000 after acquiring an additional 4,807,537 shares during the last quarter. Perritt Capital Management Inc. lifted its holdings in Fortuna Silver Mines by 40.0% in the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 3,000 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Fortuna Silver Mines in the 1st quarter valued at about $159,000. Finally, Russell Investments Group Ltd. raised its holdings in Fortuna Silver Mines by 64.1% during the 1st quarter. Russell Investments Group Ltd. now owns 72,518 shares of the basic materials company’s stock worth $270,000 after buying an additional 28,325 shares during the period. 33.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSM has been the subject of a number of research analyst reports. Scotiabank lifted their price target on shares of Fortuna Silver Mines from $4.75 to $6.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a research note on Thursday, March 7th. Finally, StockNews.com upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

Check Out Our Latest Stock Report on FSM

About Fortuna Silver Mines

(Get Free Report)

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.

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