Scotiabank Raises Fortuna Silver Mines (NYSE:FSM) Price Target to $6.00

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its target price upped by research analysts at Scotiabank from $4.75 to $6.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price indicates a potential upside of 3.99% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. TheStreet cut shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th. StockNews.com raised shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th.

Fortuna Silver Mines Stock Up 1.1 %

Fortuna Silver Mines stock traded up $0.06 during trading hours on Thursday, hitting $5.77. The stock had a trading volume of 5,670,507 shares, compared to its average volume of 6,025,047. The company has a quick ratio of 0.76, a current ratio of 1.27 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average price is $4.52 and its 200-day moving average price is $3.78. Fortuna Silver Mines has a 12-month low of $2.58 and a 12-month high of $5.99. The stock has a market capitalization of $1.76 billion, a P/E ratio of -52.54 and a beta of 1.57.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Fortuna Silver Mines had a negative net margin of 3.94% and a positive return on equity of 6.04%. The company had revenue of $265.31 million for the quarter. Equities research analysts anticipate that Fortuna Silver Mines will post 0.37 EPS for the current fiscal 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 the business. Perritt Capital Management Inc. boosted its position in shares of Fortuna Silver Mines by 40.0% in the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 3,000 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Fortuna Silver Mines by 26.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 36,540 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 7,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Fortuna Silver Mines by 19.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,280 shares of the basic materials company’s stock worth $233,000 after purchasing an additional 9,837 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Fortuna Silver Mines by 11.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 96,900 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 9,900 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Fortuna Silver Mines by 84.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 25,183 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 11,548 shares during the period. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Silver Mines Company Profile

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.