Shares of Fortuna Silver Mines Inc. (NYSE:FSM) rose 8.1% during trading on Friday . The stock traded as high as $8.71 and last traded at $8.70, with a volume of 1,191,652 shares. The stock had previously closed at $8.05.

A number of analysts recently commented on FSM shares. CIBC reaffirmed a “sector outperform” rating and set a $5.25 price target (up from $4.40) on shares of Fortuna Silver Mines in a research report on Friday, March 11th. Scotiabank reaffirmed a “sector perform” rating and set a $6.25 price target (up from $5.60) on shares of Fortuna Silver Mines in a research report on Tuesday, June 14th. Raymond James Financial Inc. downgraded Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research report on Monday, March 14th. TheStreet downgraded Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Thursday, March 31st. Finally, Zacks Investment Research raised Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research report on Tuesday, May 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Fortuna Silver Mines has an average rating of “Hold” and an average price target of $5.92.

The stock’s market capitalization is $1.13 billion. The stock has a 50 day moving average price of $6.37 and a 200-day moving average price of $4.50.

Fortuna Silver Mines (NYSE:FSM) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The firm had revenue of $42.70 million for the quarter, compared to the consensus estimate of $37.47 million. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. On average, analysts predict that Fortuna Silver Mines Inc. will post $0.18 EPS for the current fiscal year.

Several hedge funds recently modified their holdings of the company. Russell Frank Co bought a new stake in shares of Fortuna Silver Mines during the fourth quarter worth approximately $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. 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. Finally, 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.

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.

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