Fortuna Silver Mines (NYSE:FSM) Trading 6% Higher – Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares rose 6% on Thursday . The company traded as high as $6.12 and last traded at $6.10. Approximately 3,652,637 shares were traded during trading, a decline of 75% from the average daily volume of 14,740,674 shares. The stock had previously closed at $5.75.

Analyst Ratings Changes

A number of research analysts recently commented on the company. National Bank Financial raised Fortuna Silver Mines to a “hold” rating in a report on Friday, March 21st. Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Finally, Scotiabank reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Fortuna Silver Mines Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 80.95 and a beta of 1.22. The company has a 50-day simple moving average of $5.34 and a two-hundred day simple moving average of $4.93.

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

Hedge Funds Weigh In On Fortuna Silver Mines

Several hedge funds have recently made changes to their positions in FSM. Commonwealth Equity Services LLC lifted its stake in Fortuna Silver Mines by 10.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock valued at $88,000 after buying an additional 2,000 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Fortuna Silver Mines by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 2,440 shares during the period. Toronto Dominion Bank lifted its position in shares of Fortuna Silver Mines by 19.6% in the 3rd quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 5,240 shares in the last quarter. Geode Capital Management LLC boosted its stake in Fortuna Silver Mines by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after purchasing an additional 5,858 shares during the period. Finally, Optiver Holding B.V. purchased a new position in Fortuna Silver Mines during the 4th quarter worth approximately $26,000. 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.