Fortuna Silver Mines (NYSE:FSM) Trading Up 7.8% – Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price traded up 7.8% during mid-day trading on Thursday . The stock traded as high as $5.04 and last traded at $5.04. 5,266,051 shares changed hands during trading, a decline of 51% from the average session volume of 10,670,787 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

Separately, Scotiabank lowered their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th.

Fortuna Silver Mines Stock Up 0.5 %

The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average price is $4.57 and its 200 day moving average price is $4.68. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 63.43 and a beta of 1.55.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in Fortuna Silver Mines by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock valued at $1,240,000 after acquiring an additional 3,392 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Fortuna Silver Mines by 19.6% during the 3rd quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 5,240 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Fortuna Silver Mines by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock valued at $660,000 after purchasing an additional 5,858 shares during the period. Financial Management Professionals Inc. purchased a new stake in Fortuna Silver Mines during the third quarter worth $29,000. Finally, Klein Pavlis & Peasley Financial Inc. boosted its holdings in Fortuna Silver Mines by 2.7% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company’s stock worth $1,233,000 after buying an additional 7,644 shares in the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

About Fortuna Silver Mines

Fortuna Mining Corp. 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.