Fortuna Silver Mines (NYSE:FSM) Stock Price Up 4.3% – Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares were up 4.3% on Tuesday . The stock traded as high as $5.91 and last traded at $6.00. Approximately 1,839,127 shares were traded during trading, a decline of 78% from the average daily volume of 8,483,328 shares. The stock had previously closed at $5.75.

Wall Street Analysts Forecast Growth

FSM has been the topic of several analyst reports. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th. Scotiabank cut their target price on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. Finally, CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th.

Fortuna Silver Mines Stock Up 0.9 %

The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $4.82 and a 200-day simple moving average of $4.75. The company has a market cap of $1.84 billion, a PE ratio of 75.06 and a beta of 1.50.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The business had revenue of $302.20 million for the quarter, compared to analysts’ expectations of $301.65 million. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. Equities research analysts anticipate that Fortuna Silver Mines Inc. will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FSM. Commonwealth Equity Services LLC raised its stake in Fortuna Silver Mines by 10.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock valued at $88,000 after purchasing an additional 2,000 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Fortuna Silver Mines by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock worth $53,000 after buying an additional 2,440 shares in the last quarter. Toronto Dominion Bank boosted its position in Fortuna Silver Mines by 19.6% during the third quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 5,240 shares during the last quarter. Geode Capital Management LLC boosted its position in Fortuna Silver Mines by 4.3% during the third quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after acquiring an additional 5,858 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new stake in Fortuna Silver Mines during the 4th quarter valued at about $26,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

About Fortuna Silver Mines

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.