Fortuna Silver Mines Inc. (FSM) Given Average Recommendation of “Buy” by Analysts
Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) have earned a consensus rating of “Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.75.
FSM has been the subject of several research analyst reports. Canaccord Genuity initiated coverage on shares of Fortuna Silver Mines in a research report on Thursday, September 7th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating and set a $5.25 price target for the company in a research note on Friday, September 22nd. Finally, BidaskClub cut shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th.
Shares of Fortuna Silver Mines (NYSE:FSM) opened at 4.45 on Wednesday. The company has a market cap of $708.54 million, a PE ratio of 17.38 and a beta of 0.17. Fortuna Silver Mines has a 1-year low of $4.11 and a 1-year high of $7.79. The firm’s 50 day moving average is $4.66 and its 200-day moving average is $4.76.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Monday, August 14th. The basic materials company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The company had revenue of $63.90 million during the quarter, compared to analyst estimates of $58.00 million. Fortuna Silver Mines had a return on equity of 9.08% and a net margin of 15.97%. Fortuna Silver Mines’s revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Equities analysts expect that Fortuna Silver Mines will post $0.28 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sprott Inc. lifted its position in Fortuna Silver Mines by 79.8% in the 2nd 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. Marshall Wace North America L.P. bought a new position in Fortuna Silver Mines during the second quarter valued at approximately $5,797,000. Cipher Capital LP grew its position in Fortuna Silver Mines by 28.9% during the second quarter. Cipher Capital LP now owns 306,562 shares of the basic materials company’s stock valued at $1,499,000 after acquiring an additional 68,774 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Fortuna Silver Mines by 404.2% during the first quarter. Tower Research Capital LLC TRC now owns 29,748 shares of the basic materials company’s stock valued at $155,000 after acquiring an additional 23,848 shares during the last quarter. Finally, Swiss National Bank grew its position in Fortuna Silver Mines by 10.4% during the first quarter. Swiss National Bank now owns 265,600 shares of the basic materials company’s stock valued at $1,382,000 after acquiring an additional 25,000 shares during the last quarter. 44.65% of the stock is currently owned by institutional investors.
About Fortuna Silver Mines
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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