Scotiabank Lowers Fortuna Silver Mines (NYSE:FSM) Price Target to $6.00

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its price target cut by research analysts at Scotiabank from $6.75 to $6.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target would indicate a potential upside of 35.14% from the stock’s current price. Scotiabank also issued estimates for Fortuna Silver Mines’ FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.46 EPS.

Fortuna Silver Mines Stock Down 2.6 %

FSM traded down $0.12 during trading on Wednesday, hitting $4.44. 1,080,169 shares of the company’s stock were exchanged, compared to its average volume of 8,770,399. The stock has a market cap of $1.36 billion, a P/E ratio of 55.51 and a beta of 1.55. Fortuna Silver Mines has a fifty-two week low of $2.63 and a fifty-two week high of $6.36. The business’s 50 day moving average is $4.63 and its two-hundred day moving average is $4.73. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Fortuna Silver Mines

Several institutional investors have recently bought and sold shares of FSM. Choreo LLC purchased a new stake in Fortuna Silver Mines in the second quarter worth $59,000. American Century Companies Inc. raised its stake in Fortuna Silver Mines by 28.2% in the 2nd quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock valued at $23,664,000 after acquiring an additional 1,065,370 shares during the period. Dimensional Fund Advisors LP boosted its position in Fortuna Silver Mines by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock worth $29,865,000 after purchasing an additional 346,008 shares during the period. Renaissance Technologies LLC raised its position in shares of Fortuna Silver Mines by 94.9% in the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock valued at $25,173,000 after purchasing an additional 2,507,249 shares during the period. Finally, AE Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at approximately $118,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Company Profile

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.