Fortuna Silver Mines (NYSE:FSM) Shares Gap Up to $4.59

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) gapped up before the market opened on Monday . The stock had previously closed at $4.59, but opened at $4.74. Fortuna Silver Mines shares last traded at $4.78, with a volume of 1,424,864 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank increased their target price on Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a “sector perform” rating in a report on Monday, April 8th. TheStreet downgraded shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a research note on Thursday, March 7th. Finally, StockNews.com cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research report on Monday, April 15th.

Fortuna Silver Mines Price Performance

The stock has a fifty day moving average of $4.01 and a two-hundred day moving average of $3.59. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -30.81 and a beta of 1.57.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Fortuna Silver Mines had a negative net margin of 5.99% and a positive return on equity of 5.03%. The business had revenue of $265.31 million during the quarter. As a group, equities research analysts forecast that Fortuna Silver Mines Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Fortuna Silver Mines by 26.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 36,540 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 7,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Fortuna Silver Mines by 2.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,420,338 shares of the basic materials company’s stock worth $20,307,000 after purchasing an additional 155,286 shares during the last quarter. Aire Advisors LLC lifted its position in Fortuna Silver Mines by 37.5% during the 3rd quarter. Aire Advisors LLC now owns 55,000 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 15,000 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Fortuna Silver Mines by 5.2% in the 3rd quarter. CIBC Asset Management Inc now owns 277,214 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 13,675 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $66,000. Institutional investors 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.