Fortuna Silver Mines Inc. (NYSE:FSM) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.79 and last traded at $7.72, with a volume of 1,498,112 shares. The stock had previously closed at $7.61.

A number of brokerages have issued reports on FSM. Scotiabank reiterated a “sector perform” rating and set a $6.25 price objective (up from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research note on Monday, May 30th. BMO Capital Markets downgraded shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. TheStreet upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. Finally, Raymond James Financial Inc. downgraded shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Monday, March 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.92.

The company has a 50-day moving average price of $6.30 and a 200-day moving average price of $4.47. The company’s market capitalization is $1.07 billion.

Fortuna Silver Mines (NYSE:FSM) last released its earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The business had revenue of $42.70 million for the quarter, compared to the consensus estimate of $37.47 million. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts forecast that Fortuna Silver Mines Inc. will post $0.18 EPS for the current fiscal year.

Other large investors have recently made changes to their positions in the company. Russell Frank Co purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter worth about $1,030,000. Morgan Stanley boosted its stake in shares of Fortuna Silver Mines by 3.7% in the fourth quarter. Morgan Stanley now owns 772,997 shares of the company’s stock worth $1,739,000 after buying an additional 27,560 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Fortuna Silver Mines by 32.9% in the fourth quarter. OppenheimerFunds Inc. now owns 930,000 shares of the company’s stock worth $2,090,000 after buying an additional 230,000 shares in the last quarter. Finally, Central Square Management LLC boosted its stake in shares of Fortuna Silver Mines by 19.0% in the fourth quarter. Central Square Management LLC now owns 1,002,249 shares of the company’s stock worth $2,255,000 after buying an additional 160,328 shares in the last quarter.

Fortuna Silver Mines Inc (Fortuna) is a Canada-based mining company, which is engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company is engaged in the mining and processing of silver-lead, zinc and silver-gold products, and the sale of these products.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.