Fortuna Silver Mines Inc. (FSM) Sees Large Volume Increase
Fortuna Silver Mines Inc. (NYSE:FSM) saw an uptick in trading volume on Thursday . 1,592,785 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 2,021,557 shares.The stock last traded at $8.27 and had previously closed at $8.19.
Several research firms have issued reports on FSM. Zacks Investment Research cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. BMO Capital Markets cut shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Scotiabank reiterated a “sector perform” rating and issued a $6.25 target price (up from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. TheStreet upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. Finally, CIBC reissued a “sector outperform” rating and issued a $5.25 price target (up previously from $4.40) on shares of Fortuna Silver Mines in a report on Friday, March 11th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.92.
The company’s market cap is $1.05 billion. The company has a 50-day moving average price of $6.37 and a 200 day moving average price of $4.50.
Fortuna Silver Mines (NYSE:FSM) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. During the same period in the previous year, the business earned $0.03 earnings per share. The company earned $42.70 million during the quarter, compared to analysts’ expectations of $37.47 million. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Fortuna Silver Mines Inc. will post $0.18 earnings per share for the current fiscal year.
Several institutional investors recently made changes to their positions in FSM. Russell Frank Co bought a new position in shares of Fortuna Silver Mines during the fourth quarter valued at approximately $1,030,000. Morgan Stanley raised its position in shares of Fortuna Silver Mines by 3.7% in the fourth quarter. Morgan Stanley now owns 772,997 shares of the company’s stock valued at $1,739,000 after buying an additional 27,560 shares during the last quarter. Central Square Management LLC raised its position 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 valued at $2,255,000 after buying an additional 160,328 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position 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 valued at $2,090,000 after buying an additional 230,000 shares during the last quarter.
Fortuna Silver Mines Inc (Fortuna) is a Canada-based mining company, which is engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company is engaged in the mining and processing of silver-lead, zinc and silver-gold products, and the sale of these products.
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