Fortuna Silver Mines (NYSE:FSM) Upgraded to “Buy” at StockNews.com

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also recently issued reports on FSM. Scotiabank boosted their price objective on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the company a “sector perform” rating in a report on Monday, April 8th. TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th.

Fortuna Silver Mines Trading Down 2.8 %

Shares of NYSE:FSM traded down $0.14 during midday trading on Wednesday, hitting $4.80. The company had a trading volume of 9,557,121 shares, compared to its average volume of 5,770,293. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16. Fortuna Silver Mines has a 12 month low of $2.58 and a 12 month high of $5.13. The firm has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $3.60. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -30.00 and a beta of 1.57.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $265.31 million for the quarter. Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. On average, analysts predict that Fortuna Silver Mines will post 0.08 EPS for the current year.

Institutional Trading of Fortuna Silver Mines

Several hedge funds have recently bought and sold shares of FSM. Rathbones Group PLC bought a new stake in shares of Fortuna Silver Mines in the third quarter valued at about $34,000. Private Advisor Group LLC bought a new stake in Fortuna Silver Mines in the 3rd quarter valued at approximately $66,000. B. Riley Wealth Advisors Inc. acquired a new position in Fortuna Silver Mines during the 4th quarter worth approximately $77,000. Daiwa Securities Group Inc. bought a new position in shares of Fortuna Silver Mines during the 1st quarter worth approximately $77,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Fortuna Silver Mines in the first quarter valued at approximately $78,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

About Fortuna Silver Mines

Fortuna Silver Mines Inc 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.