Fortuna Silver Mines (NYSE:FSM) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

FSM has been the topic of a number of other reports. TheStreet lowered Fortuna Silver Mines from a c- rating to a d rating in a research report on Thursday, March 7th. Scotiabank raised their price objective on shares of 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.

Fortuna Silver Mines Trading Up 7.6 %

FSM stock traded up $0.37 during trading on Wednesday, hitting $5.18. The company had a trading volume of 11,457,192 shares, compared to its average volume of 5,833,522. Fortuna Silver Mines has a one year low of $2.58 and a one year high of $5.20. The business has a 50-day moving average of $4.05 and a 200-day moving average of $3.60. The stock has a market cap of $1.58 billion, a PE ratio of -31.81 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 earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. The company had revenue of $265.31 million for the quarter. Research analysts predict that Fortuna Silver Mines will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

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