Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $7.75 price target on the basic materials company's stock. Zacks Investment Research's target price indicates a potential upside of 26.84% from the company's current price.
According to Zacks, "Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag - Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. "
A number of other analysts have also recently commented on FSM. Pi Financial raised shares of Fortuna Silver Mines from a "neutral" rating to a "buy" rating in a research note on Friday, August 28th. BMO Capital Markets boosted their target price on shares of Fortuna Silver Mines from $8.25 to $11.25 and gave the stock an "outperform" rating in a research note on Monday, August 17th. Laurentian Bank of Canada reissued a "buy" rating and set a $11.35 target price on shares of Fortuna Silver Mines in a research note on Tuesday, August 18th. National Bank Financial reissued a "hold" rating and set a $10.50 target price on shares of Fortuna Silver Mines in a research note on Thursday, July 23rd. Finally, CIBC boosted their target price on shares of Fortuna Silver Mines from $10.00 to $11.50 and gave the stock a "neutral" rating in a research note on Wednesday, September 16th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and a consensus price target of $8.97.
Shares of Fortuna Silver Mines stock traded down $0.91 during trading hours on Wednesday, reaching $6.11. The stock had a trading volume of 6,347,880 shares, compared to its average volume of 3,860,002. The stock's 50 day moving average is $6.84 and its 200 day moving average is $4.62. The firm has a market capitalization of $1.12 billion, a PE ratio of 611.61 and a beta of 1.32. Fortuna Silver Mines has a twelve month low of $1.47 and a twelve month high of $7.95. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $44.48 million during the quarter. Fortuna Silver Mines had a net margin of 0.50% and a return on equity of 0.86%. As a group, sell-side analysts predict that Fortuna Silver Mines will post 0.1 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC grew its stake in Fortuna Silver Mines by 110.1% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,354 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 2,806 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Fortuna Silver Mines in the 2nd quarter valued at approximately $56,000. Clean Yield Group purchased a new stake in shares of Fortuna Silver Mines in the 2nd quarter valued at approximately $71,000. Tower Research Capital LLC TRC grew its stake in shares of Fortuna Silver Mines by 686.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 14,112 shares of the basic materials company's stock valued at $33,000 after buying an additional 12,317 shares during the period. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of Fortuna Silver Mines in the 1st quarter valued at approximately $38,000. 37.85% of the stock is owned by institutional investors.
About Fortuna Silver Mines
Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.
Featured Story: Yield Curve
Get a free copy of the Zacks research report on Fortuna Silver Mines (FSM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
8 Consumer Staples Stocks That Offer Good Value
Chances are you’ve been spending more time at home than usual. You may also be spending more of your budget on some creature comforts that might normally make it on your shopping list. These are the consumer staples that you rely on every day.
And that’s what makes the consumer staples one of the most interesting sectors for investors.
For starters, consumer staples are defensive stocks. They are stocks that tend to perform well when the economy is doing well or when it is performing poorly. That’s because they are essentials like toilet paper, packaged foods and beverages, even alcohol and tobacco.
Now the opposite side of this coin is that the price you pay for these items is somewhat fixed. And that means these stocks don’t fit the definition of growth stocks. But the Covid-19 pandemic has changed that equation a little bit. It’s not that people are necessarily paying more for these items. But they are buying more of these items.
And this means that consumer staples are having their moment in the sun. However, it also means that right now there are several consumer staples that are looking a little pricey. But if you know anything about these stocks, you know that many of these companies are mature companies that pay a respectable, and safe, dividend.
Fortunately, there are still several stocks that appear to have room to grow and offer a nice dividend for investors.
View the "8 Consumer Staples Stocks That Offer Good Value".