Fortuna Silver Mines (NYSE:FSM) Shares Gap Up to $3.18

Fortuna Silver Mines Inc. (NYSE:FSM – Get Rating) (TSE:FVI) shares gapped up prior to trading on Monday . The stock had previously closed at $3.18, but opened at $3.34. Fortuna Silver Mines shares last traded at $3.46, with a volume of 1,248,296 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FSM shares. StockNews.com cut Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Wednesday, March 8th. BMO Capital Markets reduced their price objective on Fortuna Silver Mines from C$6.50 to C$6.25 in a research report on Tuesday, January 31st. CIBC increased their price objective on Fortuna Silver Mines from C$5.85 to C$6.00 in a research report on Tuesday, February 7th. Finally, National Bank Financial cut their target price on Fortuna Silver Mines from C$6.00 to C$5.75 in a research note on Tuesday, February 14th.

Fortuna Silver Mines Stock Up 0.9 %

The business has a 50 day moving average of $3.56 and a 200 day moving average of $3.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.93 and a quick ratio of 1.29. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 25.21 and a beta of 1.25.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FSM. Renaissance Technologies LLC raised its stake in Fortuna Silver Mines by 94.1% during the third quarter. Renaissance Technologies LLC now owns 3,600,571 shares of the basic materials company’s stock worth $9,073,000 after acquiring an additional 1,745,671 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fortuna Silver Mines by 345.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,136,632 shares of the basic materials company’s stock worth $8,141,000 after acquiring an additional 1,657,274 shares in the last quarter. Amundi raised its stake in Fortuna Silver Mines by 914.8% during the fourth quarter. Amundi now owns 1,014,789 shares of the basic materials company’s stock worth $3,684,000 after acquiring an additional 914,789 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Fortuna Silver Mines by 176.3% in the fourth quarter. Deutsche Bank AG now owns 1,143,695 shares of the basic materials company’s stock valued at $4,289,000 after buying an additional 729,773 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Fortuna Silver Mines by 25.7% in the fourth quarter. American Century Companies Inc. now owns 3,335,790 shares of the basic materials company’s stock valued at $12,517,000 after buying an additional 682,110 shares in the last quarter. 26.79% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

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Fortuna Silver Mines, Inc engages in the exploration, extraction and processing of precious and base metal in Latin America. It operates through the following segments: Minera Bateas SAC (Bateas), Compania Minera Cuzcatlan SA de C.V. (Cuzcatian), Mansfield Minera SA (Mansfield), and Corporate. The Beates segment operates the Caylloma silver, lead, and zinc mine.