Fortuna Silver Mines (NYSE:FSM) Trading Down 2.9% - What's Next?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI dropped 2.9% during mid-day trading on Friday . The company traded as low as $7.17 and last traded at $7.19. Approximately 1,939,146 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 10,577,927 shares. The stock had previously closed at $7.40.

Wall Street Analyst Weigh In

FSM has been the topic of a number of recent research reports. Scotiabank raised their target price on Fortuna Silver Mines from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Cibc World Mkts cut Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 18th. National Bank Financial upgraded Fortuna Silver Mines to a "hold" rating in a research note on Friday, March 21st. Finally, CIBC cut Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research note on Tuesday, February 18th.

Fortuna Silver Mines Price Performance

The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 87.07 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The business has a fifty day moving average price of $6.02 and a 200 day moving average price of $5.28.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $290.15 million during the quarter, compared to analyst estimates of $291.00 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. On average, research analysts expect that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortuna Silver Mines

Several hedge funds have recently made changes to their positions in FSM. Mackenzie Financial Corp grew its stake in shares of Fortuna Silver Mines by 224.6% in the 4th quarter. Mackenzie Financial Corp now owns 4,720,375 shares of the basic materials company's stock worth $20,240,000 after purchasing an additional 3,266,096 shares during the last quarter. Nuveen LLC acquired a new stake in Fortuna Silver Mines in the first quarter valued at approximately $17,032,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Fortuna Silver Mines by 123.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,859,600 shares of the basic materials company's stock valued at $29,553,000 after acquiring an additional 2,688,900 shares during the last quarter. Jump Financial LLC acquired a new stake in Fortuna Silver Mines in the first quarter valued at approximately $14,076,000. Finally, Tidal Investments LLC lifted its stake in Fortuna Silver Mines by 40.3% in the fourth quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company's stock valued at $32,359,000 after acquiring an additional 2,165,430 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.

Fortuna Silver Mines Company Profile

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.