Fortuna Silver Mines (NYSE:FSM) Price Target Raised to $7.00

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its price objective boosted by stock analysts at Scotiabank from $6.00 to $7.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target points to a potential upside of 8.28% from the company’s current price.

A number of other equities research analysts also recently commented on FSM. CIBC downgraded Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th. National Bank Financial raised Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. Finally, Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.00.

Fortuna Silver Mines Trading Down 1.1 %

Fortuna Silver Mines stock opened at $6.47 on Monday. Fortuna Silver Mines has a 1 year low of $3.86 and a 1 year high of $6.76. The firm’s 50 day moving average price is $5.39 and its 200-day moving average price is $4.95. 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 cap of $1.98 billion, a P/E ratio of 80.82 and a beta of 1.22.

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 analysts’ consensus estimates of $0.20 by ($0.09). The company had revenue of $302.20 million during the quarter, compared to the consensus estimate of $301.65 million. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. On average, equities analysts predict that Fortuna Silver Mines will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

Several hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Fortuna Silver Mines during the third quarter worth approximately $1,347,000. XTX Topco Ltd purchased a new position in shares of Fortuna Silver Mines in the 3rd quarter worth approximately $325,000. Public Employees Retirement System of Ohio purchased a new position in shares of Fortuna Silver Mines in the 3rd quarter worth approximately $1,765,000. Barclays PLC bought a new position in shares of Fortuna Silver Mines during the 3rd quarter valued at approximately $2,227,000. Finally, Geode Capital Management LLC raised its holdings in Fortuna Silver Mines by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock valued at $660,000 after buying an additional 5,858 shares during the period. 33.80% of the stock is currently 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.