Fortuna Silver Mines (NYSE:FSM) Trading Up 3.4% – Still a Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares were up 3.4% on Friday . The company traded as high as $4.87 and last traded at $4.86. Approximately 321,237 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 6,235,512 shares. The stock had previously closed at $4.70.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their price target on Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th.

Fortuna Silver Mines Trading Up 1.1 %

The business has a fifty day simple moving average of $4.62 and a 200 day simple moving average of $4.86. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -43.18 and a beta of 1.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The company had revenue of $259.97 million for the quarter. Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. As a group, equities analysts anticipate that Fortuna Silver Mines Inc. will post 0.47 EPS for the current year.

Institutional Investors Weigh In On Fortuna Silver Mines

Several hedge funds have recently made changes to their positions in the business. Perritt Capital Management Inc. boosted its holdings in shares of Fortuna Silver Mines by 40.0% during 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 last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Fortuna Silver Mines by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock worth $1,240,000 after purchasing an additional 3,392 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fortuna Silver Mines during the second quarter worth $36,000. TD Asset Management Inc boosted its holdings in shares of Fortuna Silver Mines by 0.9% during the second quarter. TD Asset Management Inc now owns 829,101 shares of the basic materials company’s stock worth $4,054,000 after purchasing an additional 7,542 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of Fortuna Silver Mines by 11.4% during 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 last quarter. Institutional investors and hedge funds 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.