Fortuna Silver Mines (NYSE:FSM) Shares Gap Down to $4.58

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI gapped down prior to trading on Tuesday . The stock had previously closed at $4.58, but opened at $4.44. Fortuna Silver Mines shares last traded at $4.46, with a volume of 1,141,275 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on FSM. Scotiabank raised their price objective on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a "sector perform" rating in a research note on Monday, April 8th. TheStreet downgraded shares of Fortuna Silver Mines from a "c-" rating to a "d" rating in a research note on Thursday, March 7th. Finally, StockNews.com downgraded shares of Fortuna Silver Mines from a "buy" rating to a "hold" rating in a research note on Monday.

Fortuna Silver Mines Stock Down 0.8 %

The company's 50 day moving average price is $3.45 and its two-hundred day moving average price is $3.40. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.39 billion, a P/E ratio of -28.41 and a beta of 1.63.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $265.31 million for the quarter. Fortuna Silver Mines had a negative net margin of 5.99% and a positive return on equity of 5.03%. As a group, research analysts expect that Fortuna Silver Mines Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Fortuna Silver Mines

Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Fortuna Silver Mines by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 13,530 shares of the basic materials company's stock valued at $34,000 after buying an additional 2,955 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Fortuna Silver Mines by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 213,716 shares of the basic materials company's stock worth $695,000 after purchasing an additional 3,435 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in Fortuna Silver Mines by 44.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 11,465 shares of the basic materials company's stock worth $44,000 after purchasing an additional 3,510 shares during the last quarter. Citigroup Inc. grew its holdings in Fortuna Silver Mines by 5.6% in the first quarter. Citigroup Inc. now owns 86,933 shares of the basic materials company's stock worth $331,000 after purchasing an additional 4,601 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Fortuna Silver Mines by 27.4% in the third quarter. LPL Financial LLC now owns 22,347 shares of the basic materials company's stock worth $61,000 after purchasing an additional 4,800 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

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.