Fortuna Silver Mines (NYSE:FSM) Shares Gap Up to $4.77

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $4.77, but opened at $4.90. Fortuna Silver Mines shares last traded at $4.89, with a volume of 1,963,566 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com raised Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a research report on Thursday, March 7th. Finally, Scotiabank raised their target price on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the company a “sector perform” rating in a research report on Monday, April 8th.

Fortuna Silver Mines Stock Down 3.4 %

The firm has a fifty day moving average of $3.40 and a 200-day moving average of $3.37. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.41 billion, a P/E ratio of -28.81 and a beta of 1.64.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $265.31 million for the quarter. Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. On average, equities research analysts anticipate that Fortuna Silver Mines Inc. will post -0.12 earnings per share for the current year.

Institutional Trading of Fortuna Silver Mines

A number of large investors have recently added to or reduced their stakes in FSM. U S Global Investors Inc. bought a new stake in shares of Fortuna Silver Mines in the 4th quarter valued at about $849,000. Maven Securities LTD acquired a new position in Fortuna Silver Mines during the third quarter worth approximately $1,952,000. Sprott Inc. raised its stake in Fortuna Silver Mines by 15.1% in the third quarter. Sprott Inc. now owns 2,162,034 shares of the basic materials company’s stock valued at $5,881,000 after buying an additional 283,809 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $1,220,000. Finally, Jump Financial LLC increased its holdings in shares of Fortuna Silver Mines by 691.4% during the 3rd quarter. Jump Financial LLC now owns 337,242 shares of the basic materials company’s stock worth $917,000 after acquiring an additional 294,631 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d'Ivoire.