Fortuna Silver Mines Inc. (NYSE:FSM) shares hit a new 52-week high during trading on Monday . The stock traded as high as $8.93 and last traded at $8.75, with a volume of 1,066,336 shares traded. The stock had previously closed at $8.69.

Several brokerages have commented on FSM. Zacks Investment Research downgraded Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. BMO Capital Markets downgraded Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 12th. Scotiabank reaffirmed a “sector perform” rating and issued a $6.25 price target (up from $5.60) on shares of Fortuna Silver Mines in a research report on Tuesday, June 14th. Finally, TheStreet raised Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research report on Friday, April 15th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.92.

The stock’s market cap is $1.11 billion. The stock’s 50 day moving average price is $6.59 and its 200-day moving average price is $4.66.

Fortuna Silver Mines (NYSE:FSM) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. During the same period last year, the company posted $0.03 earnings per share. The company had revenue of $42.70 million for the quarter, compared to analyst estimates of $37.47 million. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Fortuna Silver Mines Inc. will post $0.19 EPS for the current year.

A number of hedge funds and institutional investors recently modified their holdings of the stock. Central Square Management LLC boosted its position 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 valued at $2,255,000 after buying an additional 160,328 shares during the period. Morgan Stanley boosted its position 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 valued at $1,739,000 after buying an additional 27,560 shares during the period. OppenheimerFunds Inc. boosted its position 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 valued at $2,090,000 after buying an additional 230,000 shares during the period. Finally, Russell Frank Co bought a new position in shares of Fortuna Silver Mines during the fourth quarter valued at approximately $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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