Fortuna Silver Mines (NYSE:FSM) Stock Price Up 4.3% – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares rose 4.3% during mid-day trading on Tuesday . The company traded as high as $5.91 and last traded at $6.00. Approximately 1,839,127 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 8,483,328 shares. The stock had previously closed at $5.75.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Cibc World Mkts cut shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th. Finally, Scotiabank lowered their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th.

Fortuna Silver Mines Stock Performance

The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 75.06 and a beta of 1.50. The firm’s fifty day moving average price is $4.82 and its 200 day moving average price is $4.75.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.09). The firm had revenue of $302.20 million during the quarter, compared to analysts’ expectations of $301.65 million. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. Analysts forecast that Fortuna Silver Mines Inc. will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Silver Mines

Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth $1,828,000. The Manufacturers Life Insurance Company increased its position in shares of Fortuna Silver Mines by 323.4% during the third quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company’s stock worth $5,005,000 after purchasing an additional 821,495 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Fortuna Silver Mines by 239.0% in the 3rd quarter. Quantbot Technologies LP now owns 355,474 shares of the basic materials company’s stock valued at $1,646,000 after purchasing an additional 250,618 shares during the period. De Lisle Partners LLP purchased a new position in Fortuna Silver Mines during the 3rd quarter worth approximately $1,672,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Fortuna Silver Mines during the third quarter worth approximately $1,347,000. 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.