Fortuna Silver Mines (NYSE:FSM) Shares Gap Up to $4.59

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares gapped up prior to trading on Monday . The stock had previously closed at $4.59, but opened at $4.74. Fortuna Silver Mines shares last traded at $4.78, with a volume of 1,424,864 shares traded.

Analyst Ratings Changes

FSM has been the subject of a number of analyst reports. Scotiabank lifted their price target on Fortuna Silver Mines from $4.00 to $4.75 and gave the company a “sector perform” rating in a research note on Monday, April 8th. TheStreet lowered Fortuna Silver Mines from a “c-” rating to a “d” rating in a research report on Thursday, March 7th. Finally, StockNews.com downgraded shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Monday, April 15th.

Fortuna Silver Mines Stock Performance

The company’s 50-day simple moving average is $4.01 and its 200 day simple moving average is $3.59. The stock has a market cap of $1.51 billion, a P/E ratio of -30.81 and a beta of 1.57. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, March 6th. The basic materials company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $265.31 million for the quarter. Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. As a group, sell-side analysts expect that Fortuna Silver Mines Inc. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rathbones Group PLC purchased a new stake in Fortuna Silver Mines in the 3rd quarter worth about $34,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Fortuna Silver Mines in the fourth quarter worth about $77,000. Daiwa Securities Group Inc. bought a new stake in shares of Fortuna Silver Mines in the first quarter valued at approximately $77,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Fortuna Silver Mines during the 1st quarter valued at approximately $78,000. Finally, SG Americas Securities LLC bought a new position in Fortuna Silver Mines in the 4th quarter worth approximately $82,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

About Fortuna Silver Mines

Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d'Ivoire.