Fortuna Silver Mines Inc. (NYSE:FSM) shares were up 1.2% during trading on Tuesday . The company traded as high as $9.75 and last traded at $9.29, with a volume of 1,205,261 shares changing hands. The stock had previously closed at $9.18.

A number of research analysts recently commented on FSM shares. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research note on Tuesday, May 10th. TheStreet upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. Scotiabank reiterated a “sector perform” rating and issued a $6.25 price target (up previously from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. Finally, 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. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $7.08.

The stock has a 50-day moving average price of $7.73 and a 200 day moving average price of $5.34. The firm’s market cap is $1.18 billion.

Fortuna Silver Mines (NYSE:FSM) last released 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 firm had revenue of $42.70 million for the quarter, compared to the consensus estimate of $37.47 million. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. Equities research analysts expect that Fortuna Silver Mines Inc. will post $0.21 earnings per share for the current year.

Other 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 worth $1,030,000. 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 worth $2,090,000 after buying an additional 230,000 shares during 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 worth $2,255,000 after buying an additional 160,328 shares during 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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