Fortuna Silver Mines (NYSE:FSM) Hits New 1-Year High - Here's Why
Fortuna Silver Mines (NYSE:FSM) reached a new 52-week high of $6.54, up from a previous close of $6.23. Analysts have mixed ratings on the stock, with CIBC downgrading it to 'sector underperform' and Scotiabank lowering its price target to $6.00. The company reported a quarterly EPS of $0.11, missing estimates, and has a market cap of $2 billion. Institutional investors hold 33.80% of the stock. Fortuna primarily operates in precious and base metal mining across several countries.
Shares of Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI hit a new 52-week high during trading on Friday . The company 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.
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Several research firms have recently weighed in on FSM. CIBC cut shares of Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a report on Tuesday, February 18th. Scotiabank dropped 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 Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 18th. Finally, National Bank Financial upgraded Fortuna Silver Mines to a "hold" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Fortuna Silver Mines presently has a consensus rating of "Hold" and an average target price of $6.00.
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Fortuna Silver Mines Trading Up 4.5 %
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The firm's 50-day simple moving average is $5.31 and its 200 day simple moving average is $4.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 81.79 and a beta of 1.22.
Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings results on Wednesday, March 5th. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.09). The business had revenue of $302.20 million for the quarter, compared to analyst estimates of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. Equities analysts expect that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.
Institutional Investors Weigh In On Fortuna Silver Mines
Hedge funds have recently modified their holdings of the company. Optiver Holding B.V. bought a new position in Fortuna Silver Mines in the fourth quarter valued at about $26,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Fortuna Silver Mines in the 4th quarter valued at approximately $34,000. SeaCrest Wealth Management LLC bought a new position in shares of Fortuna Silver Mines during the fourth quarter valued at $45,000. Bank of Nova Scotia acquired a new position in shares of Fortuna Silver Mines during the fourth quarter worth $46,000. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Fortuna Silver Mines by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock worth $53,000 after purchasing an additional 2,440 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.
Fortuna Silver Mines Company Profile
(Get Free Report)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.
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