Fortuna Silver Mines Inc. (NYSE:FSM) traded down 2.3% on Monday . The company 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.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. BMO Capital Markets lowered Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 12th. TheStreet raised Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research report on Friday, April 15th. Finally, Scotiabank reissued 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.92.

The firm has a 50-day moving average of $6.99 and a 200 day moving average of $4.87. The firm’s market cap is $1.10 billion.

Fortuna Silver Mines (NYSE:FSM) last released its quarterly earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $42.70 million for the quarter, compared to analysts’ expectations of $37.47 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that Fortuna Silver Mines Inc. will post $0.21 earnings per share for the current year.

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

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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