Fortuna Silver Mines Inc. (FSM) Trading Up 6.2%
Fortuna Silver Mines Inc. (NYSE:FSM) 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 traded. The stock had previously closed at $8.77.
A number of brokerages have commented on FSM. TheStreet raised shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a report on Friday, April 15th. Zacks Investment Research lowered shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. BMO Capital Markets lowered shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a report on Thursday, May 12th. Finally, Scotiabank reissued a “sector perform” rating and set a $6.25 price objective (up previously from $5.60) on shares of Fortuna Silver Mines in a report on Tuesday, June 14th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $7.08.
The stock’s 50-day moving average price is $7.88 and its 200-day moving average price is $5.39. The firm’s market cap is $1.22 billion.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Russell Frank Co bought a new position in Fortuna Silver Mines during the fourth quarter worth approximately $1,030,000. Central Square Management LLC increased its position in 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 during the period. Finally, OppenheimerFunds Inc. increased its position in 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 during the period.
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.