Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) have been given an average rating of “Buy” by the ten brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.75.

A number of equities research analysts have recently issued reports on the stock. Scotiabank cut their price objective on shares of Fortuna Silver Mines from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Friday, October 6th. Zacks Investment Research raised shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating and set a $5.25 price objective for the company in a research report on Friday, September 22nd. Canaccord Genuity assumed coverage on shares of Fortuna Silver Mines in a research report on Thursday, September 7th. They set a “buy” rating for the company. Finally, BidaskClub downgraded shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th.

Fortuna Silver Mines (NYSE:FSM) opened at 4.31 on Friday. The firm’s 50-day moving average price is $4.60 and its 200 day moving average price is $4.69. Fortuna Silver Mines has a one year low of $4.11 and a one year high of $7.73. The company has a market capitalization of $686.25 million, a price-to-earnings ratio of 16.84 and a beta of 0.16.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Monday, August 14th. The basic materials company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $63.90 million during the quarter, compared to analyst estimates of $58.00 million. Fortuna Silver Mines had a net margin of 15.97% and a return on equity of 9.08%. The company’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. On average, equities research analysts expect that Fortuna Silver Mines will post $0.29 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Global X Management Co. LLC grew its position in shares of Fortuna Silver Mines by 6.2% during the 2nd quarter. Global X Management Co. LLC now owns 1,872,072 shares of the basic materials company’s stock valued at $9,154,000 after acquiring an additional 108,484 shares during the period. Sprott Inc. grew its position in shares of Fortuna Silver Mines by 79.8% during the 2nd quarter. Sprott Inc. now owns 1,832,300 shares of the basic materials company’s stock valued at $8,960,000 after acquiring an additional 813,000 shares during the period. Fiera Capital Corp grew its position in shares of Fortuna Silver Mines by 1,670.2% during the 2nd quarter. Fiera Capital Corp now owns 1,773,765 shares of the basic materials company’s stock valued at $8,670,000 after acquiring an additional 1,673,565 shares during the period. Ingalls & Snyder LLC grew its position in shares of Fortuna Silver Mines by 184.0% during the 3rd quarter. Ingalls & Snyder LLC now owns 1,512,200 shares of the basic materials company’s stock valued at $6,623,000 after acquiring an additional 979,800 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Fortuna Silver Mines by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,286,645 shares of the basic materials company’s stock valued at $6,289,000 after acquiring an additional 42,540 shares during the period. 44.66% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

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