Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded from a “hold” rating to a “buy” rating by research analysts at Canaccord Genuity Group in a research report issued to clients and investors Tuesday, Briefing.com reports.
Several other research firms have also recently commented on FSM. downgraded shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Thursday, November 11. BMO Capital Markets upgraded Fortuna Silver Mines from a “Market Perform” rating to an “Outperform” rating in a report Monday, December 20, and set a price target of $7.25 for the company. CIBC lowered its target price on Fortuna Silver Mines to $8.00 from $9.00 and gave the company a neutral rating in a report Wednesday, October 13. Zacks Investment Research downgraded shares of Fortuna Silver Mines from a “strong buy” rating to a “hold” rating in a report Wednesday, January 12. Finally, National Bank Financial lowered its target price on shares of Fortuna Silver Mines from $7.00 to $6.50 and gave the stock a sector perform rating on Monday, November 15th. One analyst has rated the stock with a sell rating, three have given it a hold rating and three have given it a buy rating. Based on data from MarketBeat.com, Fortuna Silver Mines currently has an average rating of Hold and an average price target of $6.90.
FSM shares opened at $3.66 on Tuesday. The company’s 50-day moving average is $3.74 and its 200-day moving average is $4.25. The stock has a market cap of $1.07 billion, a P/E of 11.81, and a beta of 1.32. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt to equity ratio of 0.05. Fortuna Silver Mines has a 12-month low of $2.91 and a 12-month high of $9.85.
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Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly results on Thursday, November 11th. The materials company reported earnings per share of $0.08 for the quarter, missing analyst consensus estimates of $0.10 to ($0.02). The company had revenue of $162.57 million for the quarter. Fortuna Silver Mines had a return on equity of 10.32% and a net margin of 12.04%. In the same quarter last year, the company posted $0.09 per share. Equity analysts are predicting that Fortuna Silver Mines will report earnings per share of 0.49 for the current fiscal year.
A number of hedge funds have recently changed their holdings of FSM. Profund Advisors LLC increased its position in shares of Fortuna Silver Mines by 18.7% during the second quarter. Profund Advisors LLC now owns 18,001 shares of the $100,000 materials company, having purchased an additional 2,842 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Fortuna Silver Mines by 19.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,419 shares of the materials company, valued at $72,000, after purchasing an additional 2,962 shares during the period. Commonwealth Equity Services LLC increased its position in Fortuna Silver Mines by 6.4% in the third quarter. Commonwealth Equity Services LLC now owns 61,667 shares of the materials company, valued at $242,000, after purchasing an additional 3,700 shares during the period. Banque Cantonale Vaudoise increased its position in Fortuna Silver Mines by 13.2% in the third quarter. Banque Cantonale Vaudoise now owns 40,376 shares of the materials company, valued at $159,000, after purchasing a further 4,710 shares during the period. Finally, Dubuque Bank & Trust Co. increased its position in Fortuna Silver Mines by 35.7% in the third quarter. Dubuque Bank & Trust Co. now owns 19,000 shares of the materials company, valued at $75,000, after purchasing an additional 5,000 shares last quarter. Institutional investors own 26.01% of the company’s shares.
Corporate Profile of Fortuna Silver Mines
Fortuna Silver Mines, Inc is engaged in the exploration, mining and processing of precious and base metals in Latin America. It operates through the following segments: Minera Bateas SAC (Bateas), Compania Minera Cuzcatlan SA de CV (Cuzcatian), Mansfield Minera SA (Mansfield) and Corporate. The Beates segment operates the Caylloma silver, lead and zinc mine.
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