Fortuna Silver Mines Inc (FSM) Cut to “Sell” at BidaskClub
BidaskClub cut shares of Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) from a hold rating to a sell rating in a research report sent to investors on Saturday.
Other research analysts have also issued research reports about the company. Scotiabank reaffirmed a sector perform rating and set a $9.00 price objective on shares of Fortuna Silver Mines in a research report on Wednesday, April 19th. National Bank Financial reaffirmed an outperform rating on shares of Fortuna Silver Mines in a research report on Monday, May 15th. Zacks Investment Research lowered Fortuna Silver Mines from a hold rating to a sell rating in a research report on Monday, May 29th. Finally, ValuEngine lowered Fortuna Silver Mines from a buy rating to a hold rating in a research report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $8.94.
Shares of Fortuna Silver Mines (FSM) traded down 1.79% on Friday, hitting $4.38. The company had a trading volume of 1,480,359 shares. The firm’s 50 day moving average price is $4.83 and its 200-day moving average price is $5.20. The stock has a market capitalization of $697.40 million, a PE ratio of 22.81 and a beta of 0.27. Fortuna Silver Mines has a 52 week low of $4.11 and a 52 week high of $9.57.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Monday, May 15th. The basic materials company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.01. Fortuna Silver Mines had a net margin of 12.88% and a return on equity of 9.58%. The company had revenue of $57.90 million for the quarter, compared to the consensus estimate of $59 million. The firm’s revenue was up 56.5% on a year-over-year basis. Analysts forecast that Fortuna Silver Mines will post $0.29 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new stake in Fortuna Silver Mines during the second quarter worth approximately $5,797,000. Alps Advisors Inc. raised its stake in Fortuna Silver Mines by 209.2% in the second quarter. Alps Advisors Inc. now owns 902,186 shares of the basic materials company’s stock worth $4,412,000 after buying an additional 610,431 shares during the last quarter. Global X Management Co. LLC raised its stake in Fortuna Silver Mines by 6.2% in the second quarter. Global X Management Co. LLC now owns 1,872,072 shares of the basic materials company’s stock worth $9,154,000 after buying an additional 108,484 shares during the last quarter. Sei Investments Co. raised its stake in Fortuna Silver Mines by 24,858.0% in the second quarter. Sei Investments Co. now owns 359,645 shares of the basic materials company’s stock worth $1,758,000 after buying an additional 358,204 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its stake in Fortuna Silver Mines by 15.3% in the second quarter. Ingalls & Snyder LLC now owns 532,400 shares of the basic materials company’s stock worth $2,603,000 after buying an additional 70,500 shares during the last quarter. 50.44% of the stock is owned by institutional investors and hedge funds.
Fortuna Silver Mines Company Profile
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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