Fortuna Silver Mines (NYSE:FSM) Shares Gap Up – What’s Next?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.68, but opened at $4.89. Fortuna Silver Mines shares last traded at $4.88, with a volume of 685,178 shares traded.

Analysts Set New Price Targets

Separately, Scotiabank lifted their price target on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th.

Fortuna Silver Mines Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The company has a market capitalization of $1.56 billion, a PE ratio of 58.51 and a beta of 1.58. The firm has a 50-day moving average of $4.81 and a 200 day moving average of $4.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new position in shares of Fortuna Silver Mines during the 3rd quarter valued at $29,000. Banque Cantonale Vaudoise purchased a new position in shares of Fortuna Silver Mines in the second quarter valued at about $36,000. Perritt Capital Management Inc. boosted its stake in shares of Fortuna Silver Mines by 40.0% in the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 3,000 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Fortuna Silver Mines during the third quarter worth about $50,000. Finally, Hohimer Wealth Management LLC bought a new stake in Fortuna Silver Mines during the 2nd quarter valued at approximately $54,000. Institutional investors own 33.80% of the company’s stock.

About Fortuna Silver Mines

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.