Fortuna Silver Mines Inc. (FSM) Trading Down 5.1%

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s share price dropped 5.1% on Monday . The stock traded as low as $4.79 and last traded at $4.81. Approximately 1,034,159 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 1,472,340 shares. The stock had previously closed at $5.07.

FSM has been the topic of several research reports. Zacks Investment Research raised shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine downgraded shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. BidaskClub downgraded shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $7.83.

The stock has a market capitalization of $789.75 million, a PE ratio of 19.38 and a beta of 0.22. The stock has a 50 day moving average of $4.68 and a 200-day moving average of $4.84.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $63.90 million for the quarter, compared to analyst estimates of $58.00 million. Fortuna Silver Mines had a net margin of 15.97% and a return on equity of 9.08%. The company’s revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. On average, equities analysts predict that Fortuna Silver Mines Inc. will post $0.27 EPS for the current year.

Several hedge funds have recently made changes to their positions in FSM. Great West Life Assurance Co. Can lifted its holdings 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 acquiring an additional 561 shares during the period. Eqis Capital Management Inc. lifted its holdings in shares of Fortuna Silver Mines by 21.7% during the 1st quarter. Eqis Capital Management Inc. now owns 47,927 shares of the basic materials company’s stock worth $249,000 after acquiring an additional 8,541 shares during the period. Capital Fund Management S.A. purchased a new position in shares of Fortuna Silver Mines during the 1st quarter worth about $258,000. Swiss National Bank lifted its holdings 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 acquiring an additional 25,000 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings 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 acquiring an additional 13,700 shares during the period. Institutional investors and hedge funds own 41.60% of the company’s stock.

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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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