Equities researchers at Canaccord Genuity assumed coverage on shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the basic materials company’s stock.

Several other analysts have also commented on FSM. Zacks Investment Research lowered Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub lowered Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. National Bank Financial reiterated an “outperform” rating on shares of Fortuna Silver Mines in a report on Monday, May 15th. Finally, ValuEngine lowered Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.83.

Shares of Fortuna Silver Mines (FSM) opened at 4.97 on Thursday. The company has a market cap of $791.34 million, a price-to-earnings ratio of 19.41 and a beta of 0.22. The firm has a 50 day moving average price of $4.67 and a 200-day moving average price of $4.87. Fortuna Silver Mines has a 12-month low of $4.11 and a 12-month high of $9.09.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Monday, August 14th. The basic materials company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Fortuna Silver Mines had a return on equity of 9.08% and a net margin of 15.97%. The firm had revenue of $63.90 million during the quarter, compared to analyst estimates of $58 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 43.6% compared to the same quarter last year. On average, equities analysts expect that Fortuna Silver Mines will post $0.26 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSM. Creative Planning increased its position in shares of Fortuna Silver Mines by 18.5% in the 1st quarter. Creative Planning now owns 21,781 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 3,400 shares during the period. Bank of Montreal Can increased its position in shares of Fortuna Silver Mines by 172.8% in the 1st quarter. Bank of Montreal Can now owns 474,435 shares of the basic materials company’s stock valued at $2,467,000 after acquiring an additional 300,553 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Fortuna Silver Mines by 2.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 28,722 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 561 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in shares of Fortuna Silver Mines by 112.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 109,238 shares of the basic materials company’s stock valued at $568,000 after acquiring an additional 57,939 shares during the period. Finally, Eqis Capital Management Inc. increased its position in shares of Fortuna Silver Mines by 21.7% in the 1st quarter. Eqis Capital Management Inc. now owns 47,927 shares of the basic materials company’s stock valued at $249,000 after acquiring an additional 8,541 shares during the period. 41.60% of the stock is currently owned by hedge funds and other institutional investors.

About Fortuna Silver Mines

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.

Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

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