Fortuna Silver Mines Inc. (FSM) Sees Unusually-High Trading Volume
Fortuna Silver Mines Inc. (NYSE:FSM) shares saw unusually-strong trading volume on Friday . Approximately 1,664,918 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 1,637,892 shares.The stock last traded at $8.17 and had previously closed at $7.89.
Several equities research analysts have recently issued reports on FSM shares. 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 on the stock in a research note on Thursday, July 28th. BMO Capital Markets downgraded shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Canaccord Genuity reiterated a “hold” rating and set a $12.25 price target (up previously from $11.75) on shares of Fortuna Silver Mines in a research note on Thursday, August 11th. Finally, Scotiabank reiterated a “sector perform” rating and set a $6.25 price target (up previously from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Fortuna Silver Mines has an average rating of “Buy” and an average price target of $9.00.
The stock’s 50-day moving average price is $8.72 and its 200 day moving average price is $6.07. The company’s market capitalization is $1.17 billion.
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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