Fortuna Silver Mines (NYSE:FSM) Shares Gap Down to $4.58

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.58, but opened at $4.44. Fortuna Silver Mines shares last traded at $4.46, with a volume of 1,141,275 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th. Scotiabank raised their price objective on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a “sector perform” rating in a report on Monday, April 8th. Finally, StockNews.com cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Monday.

Fortuna Silver Mines Stock Performance

The stock has a 50 day moving average price of $3.48 and a two-hundred day moving average price of $3.40. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -28.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.89.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced 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 positive return on equity of 5.03% and a negative net margin of 5.99%. The company had revenue of $265.31 million during the quarter. On average, analysts predict that Fortuna Silver Mines Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. U S Global Investors Inc. bought a new position in Fortuna Silver Mines in the fourth quarter valued at about $849,000. Maven Securities LTD acquired a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $1,952,000. Sprott Inc. lifted its holdings in Fortuna Silver Mines by 15.1% in the third quarter. Sprott Inc. now owns 2,162,034 shares of the basic materials company’s stock valued at $5,881,000 after buying an additional 283,809 shares during the period. Klein Pavlis & Peasley Financial Inc. bought a new position in Fortuna Silver Mines in the fourth quarter valued at approximately $1,220,000. Finally, Jump Financial LLC grew its holdings in Fortuna Silver Mines by 691.4% during the 3rd quarter. Jump Financial LLC now owns 337,242 shares of the basic materials company’s stock worth $917,000 after acquiring an additional 294,631 shares during the period. 33.80% of the stock is currently owned by institutional investors.

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.