Fortuna Silver Mines (NYSE:FSM) PT Raised to $6.50

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its price target increased by investment analysts at Scotiabank from $6.00 to $6.50 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 36.84% from the company’s previous close.

Separately, StockNews.com raised Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.

Fortuna Silver Mines Price Performance

Fortuna Silver Mines stock traded up $0.17 during mid-day trading on Monday, hitting $4.75. 2,228,576 shares of the company were exchanged, compared to its average volume of 6,072,875. The company has a market capitalization of $1.45 billion, a P/E ratio of -43.18 and a beta of 1.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.27 and a quick ratio of 0.76. Fortuna Silver Mines has a 12-month low of $2.58 and a 12-month high of $6.36. The business’s 50 day simple moving average is $4.84 and its two-hundred day simple moving average is $4.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSM. Banque Cantonale Vaudoise acquired a new position in Fortuna Silver Mines in the second quarter valued at $36,000. Perritt Capital Management Inc. boosted its holdings in 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 valued at $39,000 after acquiring an additional 3,000 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in Fortuna Silver Mines in the second quarter valued at $54,000. Coppell Advisory Solutions Corp. acquired a new position in Fortuna Silver Mines in the first quarter valued at $56,000. Finally, Choreo LLC acquired a new position in Fortuna Silver Mines in the second quarter valued at $59,000. Institutional investors and hedge funds 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.