Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

Several other research firms have also weighed in on FSM. BidaskClub lowered Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Canaccord Genuity initiated coverage on Fortuna Silver Mines in a research note on Thursday, September 7th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Fortuna Silver Mines has an average rating of “Buy” and an average price target of $7.83.

Fortuna Silver Mines (NYSE:FSM) traded up 1.30% on Friday, hitting $4.68. The company had a trading volume of 762,482 shares. The firm has a 50-day moving average price of $4.66 and a 200-day moving average price of $4.81. Fortuna Silver Mines has a 12-month low of $4.11 and a 12-month high of $8.21. The firm has a market capitalization of $745.16 million, a PE ratio of 18.28 and a beta of 0.22.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Monday, August 14th. The basic materials company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $63.90 million for the quarter, compared to analyst estimates of $58.00 million. Fortuna Silver Mines had a return on equity of 9.08% and a net margin of 15.97%. Fortuna Silver Mines’s revenue was up 43.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. On average, equities research analysts anticipate that Fortuna Silver Mines will post $0.28 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in FSM. Great West Life Assurance Co. Can boosted its stake in shares of Fortuna Silver Mines by 2.0% during the first quarter. Great West Life Assurance Co. Can now owns 28,722 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 561 shares in the last quarter. Swiss National Bank boosted its stake in shares of Fortuna Silver Mines by 10.4% during the first quarter. Swiss National Bank now owns 265,600 shares of the basic materials company’s stock valued at $1,382,000 after purchasing an additional 25,000 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Fortuna Silver Mines by 67.5% during the first quarter. UBS Asset Management Americas Inc. now owns 33,994 shares of the basic materials company’s stock valued at $176,000 after purchasing an additional 13,700 shares in the last quarter. CIBC World Markets Inc. boosted its stake in shares of Fortuna Silver Mines by 12.9% during the first quarter. CIBC World Markets Inc. now owns 40,316 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 4,606 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Fortuna Silver Mines by 129.7% during the first quarter. Trexquant Investment LP now owns 123,086 shares of the basic materials company’s stock valued at $640,000 after purchasing an additional 69,498 shares in the last quarter. 41.58% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Silver Mines Company Profile

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.

Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

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