Fortuna Silver Mines (NYSE:FSM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Fortuna Silver Mines (NYSE:FSMGet Rating) (TSE:FVI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $3.75 target price on the basic materials company’s stock.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

Several other research firms have also recently commented on FSM. StockNews.com raised shares of Fortuna Silver Mines from a sell rating to a hold rating in a research note on Saturday, April 2nd. National Bank Financial lifted their price objective on shares of Fortuna Silver Mines from C$5.50 to C$6.50 in a research note on Wednesday, April 20th. Finally, BMO Capital Markets lowered their price objective on shares of Fortuna Silver Mines from C$7.00 to C$6.75 in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $6.10.

Fortuna Silver Mines stock opened at $3.48 on Wednesday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 15.82 and a beta of 1.28. The company has a current ratio of 2.07, a quick ratio of 1.44 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $3.68 and its two-hundred day moving average price is $3.71. Fortuna Silver Mines has a 52 week low of $2.66 and a 52 week high of $7.22.

Fortuna Silver Mines (NYSE:FSMGet Rating) (TSE:FVI) last released its earnings results on Wednesday, May 11th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $182.33 million for the quarter. Fortuna Silver Mines had a net margin of 8.79% and a return on equity of 8.40%. Research analysts expect that Fortuna Silver Mines will post 0.4 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in shares of Fortuna Silver Mines by 4.6% in the first quarter. Van ECK Associates Corp now owns 30,690,608 shares of the basic materials company’s stock worth $116,930,000 after buying an additional 1,336,597 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fortuna Silver Mines by 4.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,518,290 shares of the basic materials company’s stock worth $24,788,000 after buying an additional 267,433 shares during the period. Euro Pacific Asset Management LLC boosted its holdings in shares of Fortuna Silver Mines by 4.7% in the first quarter. Euro Pacific Asset Management LLC now owns 3,803,294 shares of the basic materials company’s stock worth $14,517,000 after buying an additional 169,081 shares during the period. Sprott Inc. boosted its holdings in shares of Fortuna Silver Mines by 43.4% in the fourth quarter. Sprott Inc. now owns 2,997,134 shares of the basic materials company’s stock worth $11,703,000 after buying an additional 907,670 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Fortuna Silver Mines by 66.9% in the third quarter. Morgan Stanley now owns 2,538,493 shares of the basic materials company’s stock worth $9,976,000 after buying an additional 1,017,886 shares during the period. Institutional investors own 27.03% of the company’s stock.

Fortuna Silver Mines Company Profile (Get Rating)

Fortuna Silver Mines Inc engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine situated in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine situated in south western Burkina Faso; and Séguéla gold mine located in south western Côte d'Ivoire.

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