Fortuna Silver Mines (FSM) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a hold rating to a buy rating in a research report released on Thursday. The firm currently has $6.00 target price on the basic materials company’s stock.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

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Separately, TheStreet upgraded shares of Fortuna Silver Mines from a c+ rating to a b rating in a research note on Wednesday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $6.00.

NYSE FSM opened at $5.21 on Thursday. Fortuna Silver Mines has a 12 month low of $4.03 and a 12 month high of $5.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.20 and a current ratio of 4.50. The firm has a market cap of $831.71, a price-to-earnings ratio of 16.81 and a beta of 0.12.

Institutional investors have recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC lifted its position in shares of Fortuna Silver Mines by 123.7% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 26,040 shares of the basic materials company’s stock worth $114,000 after buying an additional 14,400 shares during the last quarter. Cypress Wealth Services LLC bought a new position in shares of Fortuna Silver Mines in the 4th quarter worth about $200,000. Highstreet Asset Management Inc. lifted its position in shares of Fortuna Silver Mines by 135.9% in the 4th quarter. Highstreet Asset Management Inc. now owns 38,964 shares of the basic materials company’s stock worth $203,000 after buying an additional 22,446 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of Fortuna Silver Mines by 29.4% in the 4th quarter. Scotia Capital Inc. now owns 61,385 shares of the basic materials company’s stock worth $320,000 after buying an additional 13,956 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Fortuna Silver Mines in the 4th quarter worth about $344,000. Institutional investors own 43.67% of the company’s stock.

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Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico, as well as develops the Lindero gold project situated in northwestern Argentina.

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Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

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