Canaccord Genuity Upgrades Fortuna Silver Mines to “Buy” (FSM)
Fortuna Silver Mines (NYSE:FSM) was upgraded by equities research analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of Fortuna Silver Mines (NYSE:FSM) traded up 2.59% during mid-day trading on Wednesday, hitting $5.14. The stock had a trading volume of 132,267 shares. Fortuna Silver Mines has a 52 week low of $2.58 and a 52 week high of $6.19. The stock’s 50-day moving average is $5.43 and its 200-day moving average is $4.57. The company’s market cap is $653.5 million.
A number of other firms have also recently commented on FSM. Analysts at Dundee Securities initiated coverage on shares of Fortuna Silver Mines in a research note on Monday, August 4th. They set a “buy” rating on the stock. Separately, analysts at CIBC raised their price target on shares of Fortuna Silver Mines from C$5.00 to C$6.50 in a research note on Friday, July 11th. They now have a “sector perform” rating on the stock. Finally, analysts at Raymond James downgraded shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Friday, June 27th. They now have a $6.50 price target on the stock, up previously from $6.00. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $5.50.
Fortuna Silver Mines Inc is engaged in silver mining and related activities, in Latin America, including exploration, extraction, and processing.