Fortuna Silver Mines (NYSE:FSM) Price Target Raised to $4.75

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI had its price target upped by equities research analysts at Scotiabank from $4.00 to $4.75 in a report issued on Monday, Benzinga reports. The brokerage presently has a "sector perform" rating on the basic materials company's stock. Scotiabank's target price would suggest a potential upside of 1.39% from the company's previous close.

Several other equities analysts also recently weighed in on the company. StockNews.com raised Fortuna Silver Mines from a "hold" rating to a "buy" rating in a research note on Thursday. TheStreet cut Fortuna Silver Mines from a "c-" rating to a "d" rating in a report on Thursday, March 7th.

Fortuna Silver Mines Stock Performance

Fortuna Silver Mines stock traded down $0.03 during mid-day trading on Monday, reaching $4.69. 7,836,972 shares of the company were exchanged, compared to its average volume of 5,489,230. Fortuna Silver Mines has a twelve month low of $2.58 and a twelve month high of $4.89. The firm's 50-day simple moving average is $3.27 and its two-hundred day simple moving average is $3.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 1.37. The firm has a market cap of $1.43 billion, a PE ratio of -29.28 and a beta of 1.63.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last issued its earnings results 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 business 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%. Equities analysts predict that Fortuna Silver Mines will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSM. Balyasny Asset Management L.P. purchased a new position in Fortuna Silver Mines in the first quarter valued at about $10,378,000. Van ECK Associates Corp increased its position in shares of Fortuna Silver Mines by 7.9% during the fourth quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company's stock worth $125,050,000 after acquiring an additional 2,361,636 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter worth about $7,195,000. Dimensional Fund Advisors LP increased its position in shares of Fortuna Silver Mines by 345.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,136,632 shares of the basic materials company's stock worth $8,141,000 after acquiring an additional 1,657,274 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Fortuna Silver Mines by 446.2% during the second quarter. Renaissance Technologies LLC now owns 1,854,900 shares of the basic materials company's stock worth $5,268,000 after acquiring an additional 1,515,300 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.

About Fortuna Silver Mines

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.