Fortuna Silver Mines Inc. (FSM) Price Target Cut to $6.00
Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) had its price objective cut by research analysts at Scotiabank from $7.00 to $6.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price indicates a potential upside of 31.58% from the stock’s previous close.
FSM has been the subject of a number of other research reports. Zacks Investment Research downgraded Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Canaccord Genuity assumed coverage on Fortuna Silver Mines in a report on Thursday, September 7th. They set a “buy” rating for the company. Finally, BidaskClub downgraded Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $6.75.
Fortuna Silver Mines (FSM) traded up 1.425% on Friday, reaching $4.625. 643,835 shares of the company’s stock traded hands. The firm has a market cap of $736.41 million, a PE ratio of 18.066 and a beta of 0.16. The firm’s 50-day moving average is $4.67 and its 200 day moving average is $4.76. Fortuna Silver Mines has a 12 month low of $4.11 and a 12 month high of $7.79.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Monday, August 14th. The basic materials company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $63.90 million during the quarter, compared to the consensus estimate of $58.00 million. Fortuna Silver Mines had a return on equity of 9.08% and a net margin of 15.97%. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Equities analysts predict that Fortuna Silver Mines will post $0.28 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC grew its stake in shares of Fortuna Silver Mines by 6.2% in the second quarter. Global X Management Co. LLC now owns 1,872,072 shares of the basic materials company’s stock worth $9,154,000 after acquiring an additional 108,484 shares during the last quarter. Sprott Inc. grew its stake in shares of 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 acquiring an additional 813,000 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Fortuna Silver Mines by 1,670.2% in the second quarter. Fiera Capital Corp now owns 1,773,765 shares of the basic materials company’s stock worth $8,670,000 after acquiring an additional 1,673,565 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fortuna Silver Mines by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 1,286,645 shares of the basic materials company’s stock worth $6,289,000 after acquiring an additional 42,540 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Fortuna Silver Mines in the second quarter worth $5,797,000. 44.65% of the stock is currently owned by hedge funds and other 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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