Fortuna Silver Mines Inc. (NYSE:FSM – Get Free Report) (TSE:FVI)’s stock price shot up 4% during mid-day trading on Friday . The company traded as high as $4.71 and last traded at $4.69. 1,628,546 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 5,644,991 shares. The stock had previously closed at $4.51.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on FSM shares. Scotiabank increased their price target on Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a “sector perform” rating in a report on Monday, April 8th. TheStreet cut Fortuna Silver Mines from a “c-” rating to a “d” rating in a research note on Thursday, March 7th. Finally, StockNews.com lowered shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Monday.
Check Out Our Latest Analysis on Fortuna Silver Mines
Fortuna Silver Mines Stock Performance
Fortuna Silver Mines (NYSE:FSM – Get Free Report) (TSE:FVI) last posted its quarterly earnings data on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $265.31 million for the quarter. Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. On average, equities analysts expect that Fortuna Silver Mines Inc. will post -0.12 earnings per share for the current year.
Institutional Trading of Fortuna Silver Mines
Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP acquired a new position in Fortuna Silver Mines during the third quarter worth $26,000. Northern Trust Corp bought a new stake in Fortuna Silver Mines during the 2nd quarter worth about $28,000. Equitable Holdings Inc. bought a new stake in Fortuna Silver Mines during the 2nd quarter worth about $32,000. Rathbones Group PLC acquired a new position in shares of Fortuna Silver Mines during the 3rd quarter worth about $34,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Fortuna Silver Mines by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,530 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 2,955 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.
About Fortuna Silver Mines
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.
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