Fortuna Silver Mines (NYSE:FSM) Shares Gap Up to $4.59

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares gapped up before the market opened on Monday . The stock had previously closed at $4.59, but opened at $4.74. Fortuna Silver Mines shares last traded at $4.78, with a volume of 1,424,864 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Scotiabank increased their price target on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the company a “sector perform” rating in a research report on Monday, April 8th. TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th. Finally, StockNews.com downgraded Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research report on Monday, April 15th.

Fortuna Silver Mines Trading Up 5.7 %

The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.48 billion, a P/E ratio of -30.38 and a beta of 1.57. The business has a 50-day moving average price of $3.92 and a two-hundred day moving average price of $3.56.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly 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 negative net margin of 5.99% and a positive return on equity of 5.03%. The company had revenue of $265.31 million for the quarter. On average, analysts expect that Fortuna Silver Mines Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in Fortuna Silver Mines by 26.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 36,540 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 7,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Fortuna Silver Mines by 19.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,280 shares of the basic materials company’s stock worth $233,000 after acquiring an additional 9,837 shares during the period. DORCHESTER WEALTH MANAGEMENT Co lifted its stake in Fortuna Silver Mines by 11.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 96,900 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 9,900 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Fortuna Silver Mines by 84.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 25,183 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 11,548 shares during the period. Finally, Rathbones Group PLC bought a new stake in shares of Fortuna Silver Mines in the third quarter valued at approximately $34,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.