Fortuna Silver Mines (NYSE:FSM) Shares Gap Down to $5.91

Fortuna Silver Mines Inc. (NYSE:FSMGet Free Report) (TSE:FVI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.91, but opened at $5.31. Fortuna Silver Mines shares last traded at $4.91, with a volume of 5,849,727 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on FSM. StockNews.com upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Scotiabank lifted their price target on Fortuna Silver Mines from $4.75 to $6.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, TheStreet downgraded Fortuna Silver Mines from a “c-” rating to a “d” rating in a research report on Thursday, March 7th.

View Our Latest Research Report on FSM

Fortuna Silver Mines Trading Up 4.3 %

The company’s 50 day moving average price is $5.03 and its two-hundred day moving average price is $3.98. The company has a quick ratio of 0.76, a current ratio of 1.27 and a debt-to-equity ratio of 0.12.

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 analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $224.95 million for the quarter. Fortuna Silver Mines had a negative net margin of 3.94% and a positive return on equity of 6.04%. On average, equities research analysts predict that Fortuna Silver Mines Inc. will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Fortuna Silver Mines

Institutional investors and hedge funds have recently modified their holdings of the business. Rathbones Group PLC bought a new stake in shares of Fortuna Silver Mines during the third quarter worth $34,000. Perritt Capital Management Inc. grew its stake 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 worth $39,000 after acquiring an additional 3,000 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of Fortuna Silver Mines during the first quarter worth approximately $56,000. Private Advisor Group LLC purchased a new position in shares of Fortuna Silver Mines during the third quarter worth approximately $66,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $77,000. 33.80% of the stock is owned by institutional investors.

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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