Fortuna Silver Mines Inc. (NYSE:FSM) shot up 5% on Thursday . The company traded as high as $7.84 and last traded at $7.83, with a volume of 1,043,171 shares changing hands. The stock had previously closed at $7.46.

A number of brokerages have recently weighed in on FSM. BMO Capital Markets reissued a “market perform” rating and set a $11.50 price objective (up from $9.00) on shares of Fortuna Silver Mines in a report on Saturday, August 13th. Zacks Investment Research raised shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a report on Monday, May 30th. Scotiabank restated a “sector perform” rating and set a $6.25 target price (up from $5.60) on shares of Fortuna Silver Mines in a research report on Tuesday, June 14th. Finally, Canaccord Genuity restated a “hold” rating and set a $12.25 target price (up from $11.75) on shares of Fortuna Silver Mines in a research report on Thursday, August 11th. Four 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’s stock. The company has an average rating of “Buy” and an average target price of $9.00.

The stock’s 50-day moving average price is $8.61 and its 200-day moving average price is $6.22. The firm’s market capitalization is $1.21 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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