Fortuna Silver Mines (NYSE:FSM) PT Raised to $6.00

Fortuna Silver Mines (NYSE:FSM - Free Report) TSE: FVI had its price target increased by Scotiabank from $4.75 to $6.00 in a research report report published on Thursday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company's stock.

Several other brokerages have also recently commented on FSM. TheStreet cut shares of Fortuna Silver Mines from a c- rating to a d rating in a research report on Thursday, March 7th. StockNews.com raised Fortuna Silver Mines from a hold rating to a buy rating in a report on Wednesday, May 8th.

Fortuna Silver Mines Stock Up 1.3 %

FSM stock traded up $0.08 during midday trading on Thursday, hitting $5.79. 6,967,197 shares of the company's stock were exchanged, compared to its average volume of 6,036,463. The firm has a 50 day moving average price of $4.57 and a 200-day moving average price of $3.79. Fortuna Silver Mines has a 12-month low of $2.58 and a 12-month high of $5.99. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -52.59 and a beta of 1.57. The company has a current ratio of 1.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last issued its quarterly 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). Fortuna Silver Mines had a positive return on equity of 6.04% and a negative net margin of 3.94%. The company had revenue of $265.31 million during the quarter. On average, analysts anticipate that Fortuna Silver Mines will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FSM. Perritt Capital Management Inc. lifted its position in Fortuna Silver Mines by 40.0% in the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 3,000 shares during the last quarter. Rathbones Group PLC purchased a new stake in shares of Fortuna Silver Mines during the third quarter valued at $34,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Fortuna Silver Mines in the first quarter worth about $56,000. B. Riley Wealth Advisors Inc. purchased a new position in Fortuna Silver Mines during the 4th quarter worth approximately $77,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Fortuna Silver Mines during the first quarter valued at $77,000. 33.80% of the stock is owned by institutional investors and hedge funds.

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.