Fortuna Silver Mines Inc. (NYSE:FSM) shares were down 2.3% during trading on Monday . The stock traded as low as $8.36 and last traded at $8.41, with a volume of 468,995 shares changing hands. The stock had previously closed at $8.61.

A number of equities analysts recently commented on the company. Zacks Investment Research cut Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. BMO Capital Markets cut Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a report on Thursday, May 12th. TheStreet raised Fortuna Silver Mines from a “sell” rating to a “hold” rating in a report on Friday, April 15th. Finally, Scotiabank reissued a “sector perform” rating and set a $6.25 target price (up previously from $5.60) on shares of Fortuna Silver Mines in a report on Tuesday, June 14th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $5.92.

The stock’s market capitalization is $1.12 billion. The firm has a 50-day moving average price of $6.95 and a 200-day moving average price of $4.84.

Fortuna Silver Mines (NYSE:FSM) last posted its earnings results on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. The business had revenue of $42.70 million for 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 earned $0.03 earnings per share. On average, equities research analysts expect that Fortuna Silver Mines Inc. will post $0.21 earnings per share for the current year.

Several hedge funds and institutional investors recently added to or reduced their stakes in FSM. Central Square Management LLC increased its position 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 last quarter. OppenheimerFunds Inc. increased its position 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 last quarter. Morgan Stanley increased its position 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 last quarter. Finally, Russell Frank Co acquired a new position in Fortuna Silver Mines during the fourth quarter valued at $1,030,000.

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

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