Fortuna Silver Mines Inc. (NYSE:FSM) fell 4.5% on Tuesday . The stock traded as low as $8.46 and last traded at $8.47, with a volume of 1,228,325 shares traded. The stock had previously closed at $8.87.

Several brokerages have recently weighed in on FSM. Zacks Investment Research cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. BMO Capital Markets lowered shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Scotiabank reiterated a “sector perform” rating and set a $6.25 price objective (up previously from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. 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. lowered shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Monday, March 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Fortuna Silver Mines has a consensus rating of “Hold” and a consensus target price of $5.92.

The company’s market cap is $1.11 billion. The stock’s 50-day moving average price is $6.52 and its 200 day moving average price is $4.63.

Fortuna Silver Mines (NYSE:FSM) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $42.70 million for the quarter, compared to analyst estimates of $37.47 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. Fortuna Silver Mines’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Fortuna Silver Mines Inc. will post $0.19 earnings per share for the current fiscal year.

Several large investors recently made changes to their positions in FSM. Russell Frank Co bought a new stake in shares of Fortuna Silver Mines during the fourth quarter worth $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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