Fortuna Silver Mines (FSM) Stock Price Up 6.1%

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) rose 6.1% on Monday . The company traded as high as $4.65 and last traded at $4.52. Approximately 2,089,949 shares were traded during trading, an increase of 35% from the average daily volume of 1,543,349 shares. The stock had previously closed at $4.26.

FSM has been the topic of a number of research reports. Raymond James Financial lowered shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, November 21st. Zacks Investment Research raised shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating and set a $5.25 target price on the stock in a report on Friday, September 22nd. BMO Capital Markets initiated coverage on shares of Fortuna Silver Mines in a report on Friday, November 17th. They set an “outperform” rating on the stock. Scotiabank reduced their target price on shares of Fortuna Silver Mines from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Friday, October 6th. Finally, Canaccord Genuity initiated coverage on shares of Fortuna Silver Mines in a report on Thursday, September 7th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Fortuna Silver Mines has a consensus rating of “Buy” and an average target price of $6.75.

The company has a market capitalization of $680.05, a price-to-earnings ratio of 15.21 and a beta of 0.14. The company has a quick ratio of 4.45, a current ratio of 4.77 and a debt-to-equity ratio of 0.08.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC lifted its position in shares of Fortuna Silver Mines by 123.7% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 26,040 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 14,400 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Fortuna Silver Mines in the 2nd quarter worth approximately $147,000. OxFORD Asset Management LLP acquired a new position in shares of Fortuna Silver Mines in the 2nd quarter worth approximately $150,000. Shell Asset Management Co. lifted its position in shares of Fortuna Silver Mines by 124.9% in the 3rd quarter. Shell Asset Management Co. now owns 31,141 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 17,292 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Fortuna Silver Mines in the 3rd quarter worth approximately $152,000. Hedge funds and other institutional investors own 39.59% of the company’s stock.

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About Fortuna Silver Mines

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

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