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 changing hands. The stock had previously closed at $8.05.

FSM has been the topic of several analyst reports. Scotiabank restated a “sector perform” rating and set a $6.25 price target (up previously from $5.60) on shares of Fortuna Silver Mines in a research report on Tuesday, June 14th. Raymond James Financial Inc. lowered shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research report on Monday, March 14th. TheStreet lowered shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Thursday, March 31st. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research report on Tuesday, May 10th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Fortuna Silver Mines in a research report on Thursday, March 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Fortuna Silver Mines currently has a consensus rating of “Hold” and an average price target of $5.92.

The firm’s market cap is $1.13 billion. The firm has a 50-day moving average price of $6.44 and a 200-day moving average price of $4.55.

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

A number of hedge funds have added to or reduced their stakes in FSM. Russell Frank Co acquired a new stake in Fortuna Silver Mines during the fourth quarter valued at approximately $1,030,000. Morgan Stanley increased its stake in Fortuna Silver Mines by 3.7% in the fourth quarter. Morgan Stanley now owns 772,997 shares of the company’s stock valued at $1,739,000 after buying an additional 27,560 shares during the period. Central Square Management LLC increased its stake in 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 valued at $2,255,000 after buying an additional 160,328 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in Fortuna Silver Mines by 32.9% in the fourth quarter. OppenheimerFunds Inc. now owns 930,000 shares of the company’s stock valued at $2,090,000 after buying an additional 230,000 shares during the period.

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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