Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.

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. “

FSM has been the topic of a number of other reports. ValuEngine lowered Fortuna Silver Mines from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 15th. TheStreet lowered Fortuna Silver Mines from a “b” rating to a “c+” rating in a research note on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. Fortuna Silver Mines has a consensus rating of “Hold” and a consensus price target of $6.25.

Shares of FSM stock traded down $0.02 during mid-day trading on Monday, reaching $3.42. 646,900 shares of the stock traded hands, compared to its average volume of 853,523. Fortuna Silver Mines has a 1-year low of $3.24 and a 1-year high of $6.08. The firm has a market capitalization of $550.12 million, a price-to-earnings ratio of 11.03 and a beta of 0.24. The company has a current ratio of 4.43, a quick ratio of 4.04 and a debt-to-equity ratio of 0.07.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Thursday, November 8th. The basic materials company reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. Fortuna Silver Mines had a return on equity of 7.24% and a net margin of 23.63%. The firm had revenue of $59.60 million for the quarter. On average, sell-side analysts predict that Fortuna Silver Mines will post 0.21 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Fortuna Silver Mines by 0.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,675,794 shares of the basic materials company’s stock valued at $15,215,000 after purchasing an additional 11,800 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Fortuna Silver Mines by 124.1% in the second quarter. BlackRock Inc. now owns 32,705 shares of the basic materials company’s stock worth $186,000 after acquiring an additional 18,114 shares during the period. Toronto Dominion Bank lifted its stake in shares of Fortuna Silver Mines by 28.0% in the second quarter. Toronto Dominion Bank now owns 98,835 shares of the basic materials company’s stock worth $559,000 after acquiring an additional 21,635 shares during the period. Ramsey Quantitative Systems lifted its stake in shares of Fortuna Silver Mines by 349.1% in the third quarter. Ramsey Quantitative Systems now owns 29,306 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 22,780 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Fortuna Silver Mines by 3,962.3% in the third quarter. Wells Fargo & Company MN now owns 23,683 shares of the basic materials company’s stock worth $103,000 after acquiring an additional 23,100 shares during the period. 43.67% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. It explores for silver, gold, lead, and zinc deposits. The company holds interests in the Caylloma mine located in southern Peru; and the San Jose mine situated in the state of Oaxaca in southern Mexico.

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