Shares of Fortuna Silver Mines Inc. (NYSE:FSM) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.18 and last traded at $9.14, with a volume of 640,922 shares. The stock had previously closed at $8.72.

Several analysts have recently issued reports on FSM shares. Zacks Investment Research upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Monday, May 30th. TheStreet raised Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research report on Friday, April 15th. BMO Capital Markets cut Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 12th. Finally, Scotiabank reissued 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 report on Tuesday, June 14th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Fortuna Silver Mines presently has a consensus rating of “Buy” and a consensus target price of $7.08.

The stock’s market capitalization is $1.20 billion. The company’s 50-day moving average is $7.57 and its 200-day moving average is $5.26.

Fortuna Silver Mines (NYSE:FSM) last released its quarterly earnings results on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The firm earned $42.70 million during the quarter, compared to analyst estimates of $37.47 million. During the same period in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that Fortuna Silver Mines Inc. will post $0.21 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Frank Co purchased a new stake in Fortuna Silver Mines during the fourth quarter valued at about $1,030,000. OppenheimerFunds Inc. increased its stake 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 increased its stake 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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