Fortuna Silver Mines (NYSE:FSM) Trading 7.8% Higher – What’s Next?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) traded up 7.8% during trading on Thursday . The company traded as high as $5.04 and last traded at $5.04. 5,266,051 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 10,670,787 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

Separately, Scotiabank lowered their price target on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th.

Fortuna Silver Mines Price Performance

The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 63.32 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The company has a 50-day simple moving average of $4.56 and a two-hundred day simple moving average of $4.68.

Institutional Trading of Fortuna Silver Mines

A number of large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Fortuna Silver Mines in the 3rd quarter valued at about $1,347,000. Van ECK Associates Corp lifted its position in shares of Fortuna Silver Mines by 2.6% in the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock valued at $141,511,000 after buying an additional 788,703 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Fortuna Silver Mines by 616.1% in the third quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company’s stock valued at $1,231,000 after buying an additional 218,100 shares during the last quarter. Barclays PLC bought a new position in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $2,227,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $1,765,000. 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.