Fortuna Silver Mines Inc. (FSM) Trading Up 6.2%
Fortuna Silver Mines Inc. (NYSE:FSM)’s share price was up 6.2% on Monday . The stock traded as high as $9.48 and last traded at $9.31, with a volume of 1,926,518 shares changing hands. The stock had previously closed at $8.77.
Several equities analysts have weighed in on FSM shares. Zacks Investment Research raised Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research note on Tuesday, May 10th. TheStreet raised Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. Scotiabank reissued a “sector perform” rating and issued a $6.25 target price (up previously from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. Finally, BMO Capital Markets lowered Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.08.
The company has a 50 day moving average price of $8.05 and a 200-day moving average price of $5.54. The firm’s market cap is $1.18 billion.
Other institutional investors have modified their holdings of the company. Russell Frank Co acquired a new position in shares of Fortuna Silver Mines during the fourth quarter valued at about $1,030,000. OppenheimerFunds Inc. raised its stake in shares of 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 in the last quarter. Finally, Central Square Management LLC raised its stake in shares of 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 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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