Fortuna Silver Mines (NYSE:FSM) Hits New 12-Month High - What's Next?

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $6.84 and last traded at $6.80, with a volume of 1131684 shares traded. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. CIBC lowered shares of Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research report on Tuesday, February 18th. National Bank Financial upgraded shares of Fortuna Silver Mines to a "hold" rating in a research report on Friday, March 21st. Cibc World Mkts lowered shares of Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 18th. Finally, Scotiabank lifted their price target on shares of Fortuna Silver Mines from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Monday, April 14th.

Fortuna Silver Mines Price Performance

The stock has a market cap of $2.27 billion, a PE ratio of 92.45 and a beta of 1.10. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The company's 50 day moving average is $5.96 and its 200-day moving average is $5.24.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last released its earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $290.15 million during the quarter, compared to the consensus estimate of $291.00 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. As a group, sell-side analysts predict that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FSM. Barclays PLC acquired a new position in shares of Fortuna Silver Mines in the 3rd quarter valued at about $2,227,000. SG Americas Securities LLC raised its holdings in shares of Fortuna Silver Mines by 61.8% in the 4th quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company's stock worth $95,000 after purchasing an additional 8,484 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of Fortuna Silver Mines by 2.7% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company's stock valued at $1,233,000 after acquiring an additional 7,644 shares during the period. Savant Capital LLC grew its position in Fortuna Silver Mines by 99.3% during the fourth quarter. Savant Capital LLC now owns 47,824 shares of the basic materials company's stock valued at $205,000 after purchasing an additional 23,824 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Fortuna Silver Mines by 2.3% during the fourth quarter. CIBC Asset Management Inc now owns 384,567 shares of the basic materials company's stock valued at $1,647,000 after purchasing an additional 8,633 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

About Fortuna Silver Mines

Fortuna Mining Corp. 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.