Shares of Fortuna Silver Mines Inc. (NYSE:FSM) saw unusually-strong trading volume on Thursday . Approximately 1,592,785 shares changed hands during mid-day trading, a decline of 21% from the previous session’s volume of 2,021,557 shares.The stock last traded at $8.27 and had previously closed at $8.19.

A number of research analysts recently issued reports on FSM shares. CIBC reissued a “sector outperform” rating and issued a $5.25 price objective (up from $4.40) on shares of Fortuna Silver Mines in a research note on Friday, March 11th. Raymond James Financial Inc. cut shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Monday, March 14th. BMO Capital Markets reissued a “market perform” rating on shares of Fortuna Silver Mines in a research note on Thursday, March 31st. TheStreet cut shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Thursday, March 31st. Finally, Zacks Investment Research cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Fortuna Silver Mines currently has a consensus rating of “Hold” and a consensus target price of $5.92.

The company’s market cap is $1.13 billion. The firm’s 50 day moving average price is $6.44 and its 200 day moving average price is $4.55.

Fortuna Silver Mines (NYSE:FSM) last released its earnings results on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.02. The company earned $42.70 million during the quarter, compared to analysts’ expectations of $37.47 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Fortuna Silver Mines Inc. will post $0.19 EPS for the current fiscal year.

Other hedge funds have made changes to their positions in the company. Russell Frank Co acquired 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 during 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 during 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 during 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.