Fortuna Silver Mines (NYSE:FSM) Hits New 52-Week High After Analyst Upgrade

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from $4.00 to $4.75. Scotiabank currently has a sector perform rating on the stock. Fortuna Silver Mines traded as high as $4.92 and last traded at $4.82, with a volume of 3600834 shares changing hands. The stock had previously closed at $4.68.

Several other research firms have also issued reports on FSM. StockNews.com upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. TheStreet lowered Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in Fortuna Silver Mines by 7.9% during the fourth quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company’s stock worth $125,050,000 after buying an additional 2,361,636 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fortuna Silver Mines by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,566,641 shares of the basic materials company’s stock valued at $29,266,000 after purchasing an additional 146,303 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fortuna Silver Mines by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,002,409 shares of the basic materials company’s stock valued at $19,309,000 after purchasing an additional 553,722 shares in the last quarter. Euro Pacific Asset Management LLC boosted its holdings in shares of Fortuna Silver Mines by 2.2% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 4,579,271 shares of the basic materials company’s stock valued at $12,460,000 after purchasing an additional 100,307 shares in the last quarter. Finally, Ruffer LLP boosted its holdings in shares of Fortuna Silver Mines by 59.0% in the 3rd quarter. Ruffer LLP now owns 3,368,940 shares of the basic materials company’s stock valued at $9,206,000 after purchasing an additional 1,250,000 shares in the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Silver Mines Stock Performance

The stock has a fifty day simple moving average of $3.33 and a two-hundred day simple moving average of $3.34. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -29.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 1.37.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Fortuna Silver Mines had a negative net margin of 5.99% and a positive return on equity of 5.03%. The business had revenue of $265.31 million during the quarter. Analysts expect that Fortuna Silver Mines Inc. will post -0.12 EPS for the current fiscal year.

Fortuna Silver Mines Company Profile

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.