Fortuna Silver Mines (NYSE:FSM) Stock Price Up 4.1% – Time to Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price shot up 4.1% on Tuesday . The company traded as high as $6.28 and last traded at $6.18. 1,194,817 shares changed hands during trading, a decline of 86% from the average session volume of 8,701,020 shares. The stock had previously closed at $5.94.

Wall Street Analyst Weigh In

Several brokerages recently commented on FSM. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. National Bank Financial upgraded shares of Fortuna Silver Mines to a “hold” rating in a research report on Friday, March 21st. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Finally, Scotiabank dropped their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Fortuna Silver Mines Stock Performance

The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $4.98 and its 200 day moving average is $4.81. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 76.20 and a beta of 1.50.

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

Institutional Investors Weigh In On Fortuna Silver Mines

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its position in shares of Fortuna Silver Mines by 224.6% in the fourth quarter. Mackenzie Financial Corp now owns 4,720,375 shares of the basic materials company’s stock valued at $20,240,000 after acquiring an additional 3,266,096 shares in the last quarter. Tidal Investments LLC raised its stake in Fortuna Silver Mines by 40.3% in the 4th quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company’s stock valued at $32,359,000 after purchasing an additional 2,165,430 shares during the last quarter. Invesco Ltd. lifted its holdings in Fortuna Silver Mines by 1,558.0% in the 4th quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company’s stock valued at $8,326,000 after purchasing an additional 1,823,695 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Fortuna Silver Mines by 17.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company’s stock worth $35,779,000 after purchasing an additional 1,219,864 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Fortuna Silver Mines by 63.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company’s stock worth $9,305,000 after buying an additional 845,900 shares in the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.