Fortuna Silver Mines (NYSE:FSM) Shares Up 4.1% – Time to Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares rose 4.1% during trading on Tuesday . The company traded as high as $6.28 and last traded at $6.18. Approximately 1,194,817 shares traded hands during trading, a decline of 86% from the average daily volume of 8,701,020 shares. The stock had previously closed at $5.94.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Scotiabank decreased their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. Cibc World Mkts downgraded Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th. National Bank Financial raised shares of Fortuna Silver Mines to a “hold” rating in a report on Friday, March 21st. Finally, CIBC downgraded shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fortuna Silver Mines has a consensus rating of “Hold” and a consensus target price of $6.00.

Fortuna Silver Mines Price Performance

The company has a 50-day moving average of $4.98 and a 200-day moving average of $4.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 76.20 and a beta of 1.50.

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

Hedge Funds Weigh In On Fortuna Silver Mines

A number of large investors have recently bought and sold shares of FSM. The Manufacturers Life Insurance Company raised its holdings in Fortuna Silver Mines by 323.4% during the third quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company’s stock worth $5,005,000 after purchasing an additional 821,495 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Fortuna Silver Mines by 239.0% during the 3rd quarter. Quantbot Technologies LP now owns 355,474 shares of the basic materials company’s stock worth $1,646,000 after buying an additional 250,618 shares in the last quarter. De Lisle Partners LLP purchased a new position in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $1,672,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Fortuna Silver Mines in the 3rd quarter valued at approximately $1,347,000. Finally, Walleye Capital LLC boosted its stake in shares of Fortuna Silver Mines by 1,041.9% in the third quarter. Walleye Capital LLC now owns 90,400 shares of the basic materials company’s stock valued at $419,000 after buying an additional 99,998 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Company Profile

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.