Fortuna Silver Mines Inc. (FSM) Sets New 52-Week High at $8.93
Fortuna Silver Mines Inc. (NYSE:FSM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.93 and last traded at $8.75, with a volume of 1,066,336 shares changing hands. The stock had previously closed at $8.69.
A number of brokerages have recently issued reports on FSM. Zacks Investment Research cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. BMO Capital Markets cut shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Scotiabank restated a “sector perform” rating and issued a $6.25 price objective (up previously from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. Raymond James Financial Inc. cut shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research report on Monday, March 14th. Finally, TheStreet upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research report on Friday, April 15th. 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 company has a 50 day moving average price of $6.44 and a 200 day moving average price of $4.55. The company’s market cap is $1.14 billion.
Fortuna Silver Mines (NYSE:FSM) last announced its earnings results on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. The business earned $42.70 million during the quarter, compared to the consensus estimate of $37.47 million. The company’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 EPS. On average, equities research analysts forecast that Fortuna Silver Mines Inc. will post $0.19 earnings per share for the current year.
Several large investors have made changes to their positions in FSM. 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. 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, Russell Frank Co acquired a new stake in shares of Fortuna Silver Mines during the fourth quarter worth about $1,030,000.
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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