Fortuna Silver Mines (NYSE:FSM) Given New $6.00 Price Target at Scotiabank

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its target price upped by Scotiabank from $4.75 to $6.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the stock. TheStreet downgraded shares of Fortuna Silver Mines from a c- rating to a d rating in a research report on Thursday, March 7th. StockNews.com raised Fortuna Silver Mines from a hold rating to a buy rating in a report on Wednesday, May 8th.

Fortuna Silver Mines Stock Performance

NYSE:FSM opened at $5.79 on Thursday. Fortuna Silver Mines has a 12-month low of $2.58 and a 12-month high of $5.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.27 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $4.57 and its 200-day simple moving average is $3.79.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $265.31 million during the quarter. Fortuna Silver Mines had a negative net margin of 3.94% and a positive return on equity of 6.04%. As a group, analysts expect that Fortuna Silver Mines will post 0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Fortuna Silver Mines by 5.0% during the 1st quarter. Van ECK Associates Corp now owns 34,021,296 shares of the basic materials company’s stock worth $126,896,000 after acquiring an additional 1,624,470 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Fortuna Silver Mines by 5.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,955,544 shares of the basic materials company’s stock valued at $29,710,000 after purchasing an additional 388,903 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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. Tidal Investments LLC increased its stake in Fortuna Silver Mines by 11,698.0% in the 1st quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock valued at $18,081,000 after purchasing an additional 4,807,537 shares in the last quarter. Finally, Euro Pacific Asset Management LLC increased its stake in 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. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.