Fortuna Silver Mines (NYSE:FSM) Hits New 12-Month High – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.52 and last traded at $6.54, with a volume of 82545 shares trading hands. The stock had previously closed at $6.23.

Analyst Ratings Changes

Several research analysts recently weighed in on FSM shares. CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th. Scotiabank reduced their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th. Cibc World Mkts downgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. Finally, National Bank Financial raised shares of Fortuna Silver Mines to a “hold” rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Fortuna Silver Mines Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 80.95 and a beta of 1.22. The stock has a 50 day simple moving average of $5.34 and a 200 day simple moving average of $4.93.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data 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 net margin of 2.45% and a return on equity of 10.08%. The firm had revenue of $302.20 million during the quarter, compared to analyst estimates of $301.65 million. As a group, analysts predict that Fortuna Silver Mines Inc. will post 0.51 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. Vanguard Capital Wealth Advisors grew its holdings in Fortuna Silver Mines by 186.2% during the 1st quarter. Vanguard Capital Wealth Advisors now owns 44,501 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 28,952 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new stake in Fortuna Silver Mines in the fourth quarter valued at about $663,000. Mackenzie Financial Corp raised its stake in Fortuna Silver Mines by 224.6% during the fourth quarter. Mackenzie Financial Corp now owns 4,720,375 shares of the basic materials company’s stock valued at $20,240,000 after buying an additional 3,266,096 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Fortuna Silver Mines by 71.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 651,688 shares of the basic materials company’s stock worth $2,796,000 after buying an additional 272,547 shares during the last quarter. Finally, Vident Advisory LLC grew its position in shares of Fortuna Silver Mines by 11.0% in the 4th quarter. Vident Advisory LLC now owns 186,703 shares of the basic materials company’s stock worth $801,000 after acquiring an additional 18,523 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other 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.