Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded by stock analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued on Thursday, The Fly reports. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research report on Monday, December 10th. ValuEngine cut Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Fortuna Silver Mines in a research note on Monday, December 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $6.25.

Shares of FSM traded up $0.03 during mid-day trading on Thursday, reaching $3.64. 115,322 shares of the company were exchanged, compared to its average volume of 1,026,719. Fortuna Silver Mines has a 52 week low of $3.16 and a 52 week high of $6.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.43 and a quick ratio of 4.04. The company has a market capitalization of $577.38 million, a price-to-earnings ratio of 11.71 and a beta of 0.22.

Several institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc raised its stake in shares of Fortuna Silver Mines by 0.8% in the fourth quarter. CIBC Asset Management Inc now owns 370,987 shares of the basic materials company’s stock valued at $1,359,000 after buying an additional 2,908 shares during the period. Millennium Management LLC raised its stake in shares of Fortuna Silver Mines by 0.9% in the fourth quarter. Millennium Management LLC now owns 876,657 shares of the basic materials company’s stock valued at $3,191,000 after buying an additional 7,737 shares during the period. Vanguard Group Inc raised its stake in shares of Fortuna Silver Mines by 11.6% in the third quarter. Vanguard Group Inc now owns 74,573 shares of the basic materials company’s stock valued at $326,000 after buying an additional 7,750 shares during the period. James Investment Research Inc. raised its stake in shares of Fortuna Silver Mines by 10.9% in the fourth quarter. James Investment Research Inc. now owns 110,445 shares of the basic materials company’s stock valued at $402,000 after buying an additional 10,815 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Fortuna Silver Mines by 2.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 719,599 shares of the basic materials company’s stock valued at $2,639,000 after buying an additional 13,800 shares during the period. Hedge funds and other institutional investors own 45.64% of the company’s stock.

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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