Fortuna Silver Mines (NYSE:FSM) Sets New 1-Year High at $4.95

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) reached a new 52-week high on Tuesday . The company traded as high as $4.95 and last traded at $4.90, with a volume of 877309 shares. The stock had previously closed at $4.85.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FSM. StockNews.com upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Wednesday. TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a research report on Thursday, March 7th. Finally, Scotiabank increased their price target on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a “sector perform” rating in a research note on Monday, April 8th.

Fortuna Silver Mines Stock Up 7.6 %

The firm’s 50-day simple moving average is $4.05 and its two-hundred day simple moving average is $3.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.89. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -31.81 and a beta of 1.57.

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

Hedge Funds Weigh In On Fortuna Silver Mines

Several hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in Fortuna Silver Mines by 7.9% during the 4th quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company’s stock worth $125,050,000 after purchasing an additional 2,361,636 shares in the last quarter. Ruffer LLP grew its holdings in shares of Fortuna Silver Mines by 59.0% during the third quarter. Ruffer LLP now owns 3,368,940 shares of the basic materials company’s stock worth $9,206,000 after buying an additional 1,250,000 shares in the last quarter. U S Global Investors Inc. grew its holdings in shares of Fortuna Silver Mines by 488.4% during the first quarter. U S Global Investors Inc. now owns 1,294,400 shares of the basic materials company’s stock worth $4,828,000 after buying an additional 1,074,400 shares in the last quarter. Maven Securities LTD acquired a new position in shares of Fortuna Silver Mines in the third quarter valued at approximately $1,952,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Fortuna Silver Mines by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,002,409 shares of the basic materials company’s stock valued at $19,309,000 after buying an additional 553,722 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Silver Mines Company Profile

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.