Fortuna Silver Mines Inc. (FSM) Sees Unusually-High Trading Volume
Shares of Fortuna Silver Mines Inc. (NYSE:FSM) 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 analysts recently commented on FSM shares. Zacks Investment Research raised 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 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 reissued a “hold” rating and issued a $12.25 price objective (up previously from $11.75) on shares of Fortuna Silver Mines in a research note on Thursday, August 11th. Finally, Scotiabank restated a “sector perform” rating and issued a $6.25 price target (up from $5.60) on shares of Fortuna Silver Mines in a research report on Tuesday, June 14th. Four 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. The company has a consensus rating of “Buy” and an average target price of $9.00.
The stock’s 50-day moving average is $8.72 and its 200 day moving average is $6.07. The firm’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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