Fortuna Silver Mines Inc. (NYSE:FSM) was down 2.9% on Friday . The company traded as low as $8.68 and last traded at $8.80, with a volume of 892,595 shares. The stock had previously closed at $9.06.

A number of research analysts recently issued reports on the stock. TheStreet upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a report on Friday, April 15th. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating and set a $9.75 price objective for the company in a report on Thursday, July 28th. BMO Capital Markets cut shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a report on Thursday, May 12th. Finally, Scotiabank restated a “sector perform” rating and set a $6.25 price objective (up previously from $5.60) on shares of Fortuna Silver Mines in a report on Tuesday, June 14th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $7.08.

The firm’s 50-day moving average is $7.81 and its 200-day moving average is $5.37. The company’s market capitalization is $1.15 billion.

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

A number of hedge funds and institutional investors have modified their holdings of FSM. Russell Frank Co acquired a new position in shares of Fortuna Silver Mines during the fourth quarter worth about $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 valued at $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 valued at $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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