Fortuna Silver Mines Inc. (FSM) Rating Increased to Hold at Zacks Investment Research
Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “
Several other brokerages have also issued reports on FSM. UBS AG raised shares of Fortuna Silver Mines from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, April 5th. National Bank Financial reaffirmed an “outperform” rating on shares of Fortuna Silver Mines in a report on Monday, May 15th. BMO Capital Markets raised shares of Fortuna Silver Mines from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $10.75 to $9.00 in a report on Friday, March 31st. ValuEngine lowered shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $9.00 price target on shares of Fortuna Silver Mines in a report on Wednesday, April 19th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $8.94.
Fortuna Silver Mines (NYSE FSM) traded down 1.63% on Tuesday, reaching $4.82. 1,045,917 shares of the company’s stock were exchanged. The firm has a market cap of $767.45 million, a PE ratio of 25.10 and a beta of 0.27. The firm’s 50-day moving average is $4.84 and its 200-day moving average is $5.26. Fortuna Silver Mines has a 12 month low of $4.11 and a 12 month high of $9.75.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its earnings results on Monday, May 15th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by $0.01. Fortuna Silver Mines had a net margin of 12.88% and a return on equity of 9.58%. The firm had revenue of $57.90 million during the quarter, compared to the consensus estimate of $59 million. Fortuna Silver Mines’s quarterly revenue was up 56.5% on a year-over-year basis. On average, equities analysts forecast that Fortuna Silver Mines will post $0.31 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/07/25/fortuna-silver-mines-inc-fsm-rating-increased-to-hold-at-zacks-investment-research.html.
Large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Fortuna Silver Mines by 22.1% in the first quarter. Van ECK Associates Corp now owns 31,669,037 shares of the basic materials company’s stock valued at $164,640,000 after buying an additional 5,729,585 shares during the period. Montrusco Bolton Investments Inc. raised its stake in Fortuna Silver Mines by 29.6% in the first quarter. Montrusco Bolton Investments Inc. now owns 11,700,097 shares of the basic materials company’s stock worth $60,709,000 after buying an additional 2,671,477 shares during the last quarter. Sprott Inc. raised its stake in Fortuna Silver Mines by 79.8% in the second quarter. Sprott Inc. now owns 1,832,300 shares of the basic materials company’s stock worth $8,960,000 after buying an additional 813,000 shares during the last quarter. Global X Management Co. LLC raised its stake in Fortuna Silver Mines by 15.2% in the first quarter. Global X Management Co. LLC now owns 1,763,588 shares of the basic materials company’s stock worth $9,151,000 after buying an additional 232,140 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in Fortuna Silver Mines by 28.9% in the first quarter. TD Asset Management Inc. now owns 1,107,749 shares of the basic materials company’s stock worth $5,748,000 after buying an additional 248,591 shares during the last quarter. 50.44% of the stock is currently owned by institutional investors.
Fortuna Silver Mines Company Profile
Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fortuna Silver Mines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortuna Silver Mines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.