Zacks Investment Research upgraded shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) from a sell rating to a hold rating in a report issued on Friday. The brokerage currently has $5.25 target price on the basic materials company’s stock.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

Several other equities analysts have also recently issued reports on FSM. BidaskClub cut shares of Fortuna Silver Mines from a hold rating to a sell rating in a research note on Saturday, August 5th. Canaccord Genuity initiated coverage on shares of Fortuna Silver Mines in a research note on Thursday, September 7th. They issued a buy rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $7.75.

Shares of Fortuna Silver Mines (NYSE:FSM) opened at 4.73 on Friday. Fortuna Silver Mines has a one year low of $4.11 and a one year high of $7.79. The company’s 50-day moving average is $4.66 and its 200-day moving average is $4.81. The stock has a market capitalization of $753.12 million, a P/E ratio of 18.48 and a beta of 0.22.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Monday, August 14th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $63.90 million for the quarter, compared to analysts’ expectations of $58.00 million. Fortuna Silver Mines had a net margin of 15.97% and a return on equity of 9.08%. Fortuna Silver Mines’s revenue was up 43.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. On average, equities research analysts anticipate that Fortuna Silver Mines will post $0.28 earnings per share for the current year.

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Several large investors have recently bought and sold shares of FSM. Great West Life Assurance Co. Can grew its stake in shares of Fortuna Silver Mines by 2.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,722 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 561 shares during the period. Swiss National Bank grew its stake in shares of Fortuna Silver Mines by 10.4% during the 1st quarter. Swiss National Bank now owns 265,600 shares of the basic materials company’s stock worth $1,382,000 after purchasing an additional 25,000 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Fortuna Silver Mines by 67.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 33,994 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 13,700 shares during the period. CIBC World Markets Inc. grew its stake in shares of Fortuna Silver Mines by 12.9% during the 1st quarter. CIBC World Markets Inc. now owns 40,316 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 4,606 shares during the period. Finally, Trexquant Investment LP grew its stake in shares of Fortuna Silver Mines by 129.7% during the 1st quarter. Trexquant Investment LP now owns 123,086 shares of the basic materials company’s stock worth $640,000 after purchasing an additional 69,498 shares during the period. 44.65% of the stock is currently 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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Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

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