Fortuna Silver Mines (FSM) Rating Increased to Buy at Canaccord Genuity

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

FSM has been the subject of several other reports. ValuEngine raised shares of Fortuna Silver Mines from a strong sell rating to a sell rating in a research note on Friday, December 21st. CIBC downgraded shares of Fortuna Silver Mines from a sector outperform rating to a neutral rating in a research note on Tuesday, March 5th. Zacks Investment Research downgraded shares of Fortuna Silver Mines from a buy rating to a hold rating in a research note on Friday, January 4th. Finally, BMO Capital Markets reissued 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 company’s stock. The stock has a consensus rating of Hold and a consensus target price of $6.25.

Fortuna Silver Mines stock traded up $0.12 during mid-day trading on Thursday, hitting $3.76. The company’s stock had a trading volume of 244,815 shares, compared to its average volume of 921,865. The company has a quick ratio of 4.04, a current ratio of 4.43 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $577.38 million, a PE ratio of 12.13 and a beta of 0.22. Fortuna Silver Mines has a 12 month low of $3.16 and a 12 month high of $6.08.

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of Fortuna Silver Mines by 25.1% in the fourth quarter. American Century Companies Inc. now owns 1,038,100 shares of the basic materials company’s stock valued at $3,779,000 after acquiring an additional 208,500 shares during the period. Geode Capital Management LLC purchased a new position in shares of Fortuna Silver Mines in the fourth quarter valued at about $183,000. APG Asset Management N.V. increased its position in shares of Fortuna Silver Mines by 95.0% in the fourth quarter. APG Asset Management N.V. now owns 326,100 shares of the basic materials company’s stock valued at $1,044,000 after acquiring an additional 158,900 shares during the period. Millennium Management LLC increased its position 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 acquiring an additional 7,737 shares during the period. Finally, Global Strategic Management Inc. purchased a new position in shares of Fortuna Silver Mines in the fourth quarter valued at about $6,013,000. 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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