Fortuna Silver Mines (NYSE:FSM) Shares Up 6.4%

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares traded up 6.4% during trading on Thursday . The stock traded as high as $4.65 and last traded at $4.63. 1,745,862 shares were traded during mid-day trading, a decline of 71% from the average session volume of 5,986,491 shares. The stock had previously closed at $4.35.

Analyst Upgrades and Downgrades

Separately, Scotiabank lifted their target price on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th.

Fortuna Silver Mines Stock Performance

The firm’s fifty day moving average price is $4.70 and its 200-day moving average price is $4.61. The company has a current ratio of 1.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.46 billion, a P/E ratio of -41.55 and a beta of 1.59.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. The company had revenue of $259.97 million during the quarter. As a group, research analysts forecast that Fortuna Silver Mines Inc. will post 0.52 EPS for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

A number of large investors have recently bought and sold shares of FSM. Russell Investments Group Ltd. bought a new stake in Fortuna Silver Mines during the 4th quarter worth approximately $171,000. Versor Investments LP bought a new position in shares of Fortuna Silver Mines during the 4th quarter worth approximately $225,000. BNP Paribas Financial Markets grew its stake in shares of Fortuna Silver Mines by 133,433.1% during the 4th quarter. BNP Paribas Financial Markets now owns 161,575 shares of the basic materials company’s stock worth $624,000 after acquiring an additional 161,454 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fortuna Silver Mines by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,002,409 shares of the basic materials company’s stock worth $19,309,000 after acquiring an additional 553,722 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Fortuna Silver Mines during the 4th quarter worth approximately $380,000. 33.80% of the stock is owned by institutional investors.

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.