Fortuna Silver Mines (NYSE:FSM) Stock Price Up 4.3% – Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price was up 4.3% during mid-day trading on Tuesday . The company traded as high as $5.91 and last traded at $6.00. Approximately 1,839,127 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 8,483,328 shares. The stock had previously closed at $5.75.

Analyst Upgrades and Downgrades

FSM has been the topic of several recent analyst reports. Scotiabank dropped their target price on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. Cibc World Mkts cut shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Finally, CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th.

Fortuna Silver Mines Stock Performance

The stock’s 50 day simple moving average is $4.76 and its two-hundred day simple moving average is $4.73. The company has a market capitalization of $1.84 billion, a P/E ratio of 75.18 and a beta of 1.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.09). The firm had revenue of $302.20 million for the quarter, compared to the consensus estimate of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. As a group, research analysts expect that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Silver Mines

Several institutional investors and hedge funds have recently made changes to their positions in FSM. Mackenzie Financial Corp boosted its position in shares of Fortuna Silver Mines by 224.6% in the 4th quarter. Mackenzie Financial Corp now owns 4,720,375 shares of the basic materials company’s stock worth $20,240,000 after purchasing an additional 3,266,096 shares during the last quarter. Tidal Investments LLC boosted its holdings in Fortuna Silver Mines by 40.3% during the fourth quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company’s stock worth $32,359,000 after buying an additional 2,165,430 shares during the last quarter. Invesco Ltd. grew its position in shares of Fortuna Silver Mines by 1,558.0% during the 4th quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company’s stock worth $8,326,000 after buying an additional 1,823,695 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Fortuna Silver Mines by 17.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company’s stock valued at $35,779,000 after acquiring an additional 1,219,864 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Fortuna Silver Mines by 63.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company’s stock valued at $9,305,000 after acquiring an additional 845,900 shares during the period. Institutional investors own 33.80% of the company’s stock.

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.