Fortuna Silver Mines Inc. (FSM) Upgraded 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 report released on Friday.
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. “
A number of other equities research analysts have also recently commented on FSM. BidaskClub cut Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Canaccord Genuity initiated coverage on Fortuna Silver Mines in a research note on Thursday, September 7th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Fortuna Silver Mines has a consensus rating of “Buy” and an average price target of $7.83.
Shares of Fortuna Silver Mines (NYSE FSM) traded up 1.30% during trading on Friday, reaching $4.68. The company’s stock had a trading volume of 762,482 shares. Fortuna Silver Mines has a one year low of $4.11 and a one year high of $8.21. The stock’s 50 day moving average is $4.66 and its 200 day moving average is $4.81. The firm has a market cap of $745.16 million, a P/E ratio of 18.28 and a beta of 0.22.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its earnings results on Monday, August 14th. The basic materials company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Fortuna Silver Mines had a return on equity of 9.08% and a net margin of 15.97%. The firm had revenue of $63.90 million for the quarter, compared to analysts’ expectations of $58.00 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 43.6% on a year-over-year basis. On average, equities analysts forecast that Fortuna Silver Mines will post $0.28 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSM. Van ECK Associates Corp grew 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 worth $164,640,000 after acquiring an additional 5,729,585 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Fortuna Silver Mines by 1,670.2% during the second quarter. Fiera Capital Corp now owns 1,773,765 shares of the basic materials company’s stock valued at $8,670,000 after purchasing an additional 1,673,565 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Fortuna Silver Mines during the second quarter valued at $5,797,000. Sprott Inc. lifted its holdings in shares of Fortuna Silver Mines by 79.8% during the second quarter. Sprott Inc. now owns 1,832,300 shares of the basic materials company’s stock valued at $8,960,000 after purchasing an additional 813,000 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Fortuna Silver Mines by 392.5% during the second quarter. Hillsdale Investment Management Inc. now owns 792,900 shares of the basic materials company’s stock valued at $3,885,000 after purchasing an additional 631,900 shares in the last quarter. 41.58% of the stock is currently owned by hedge funds and other 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.
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