Fortuna Silver Mines (NYSE:FSM) Shares Gap Down to $4.90

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.90, but opened at $4.68. Fortuna Silver Mines shares last traded at $4.67, with a volume of 901,121 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Scotiabank raised their price target on Fortuna Silver Mines from $4.75 to $6.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd.

Fortuna Silver Mines Stock Performance

The company has a current ratio of 1.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -41.91 and a beta of 1.57. The stock has a fifty day moving average price of $5.30 and a 200 day moving average price of $4.28.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Tuesday, May 7th. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $224.95 million for the quarter. Fortuna Silver Mines had a positive return on equity of 6.04% and a negative net margin of 3.94%. As a group, analysts predict that Fortuna Silver Mines Inc. will post 0.54 earnings per share for the current year.

Institutional Trading of Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSM. Perritt Capital Management Inc. grew its holdings in Fortuna Silver Mines by 40.0% in the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock valued at $39,000 after buying an additional 3,000 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of Fortuna Silver Mines in the 1st quarter worth approximately $56,000. Corundum Trust Company INC bought a new stake in shares of Fortuna Silver Mines in the 2nd quarter worth approximately $73,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Fortuna Silver Mines in the 4th quarter worth approximately $77,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Fortuna Silver Mines in the 1st quarter worth approximately $77,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.