Fortuna Silver Mines (NYSE:FSM) Reaches New 12-Month High – Time to Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares reached a new 52-week high during trading on Thursday . The company traded as high as $6.50 and last traded at $6.24, with a volume of 15706570 shares. The stock had previously closed at $6.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FSM shares. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. Cibc World Mkts downgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. National Bank Financial upgraded shares of Fortuna Silver Mines to a “hold” rating in a report on Friday, March 21st. Finally, Scotiabank decreased their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Fortuna Silver Mines presently has a consensus rating of “Hold” and an average price target of $6.00.

Fortuna Silver Mines Trading Up 2.3 %

The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The business has a 50 day simple moving average of $4.98 and a two-hundred day simple moving average of $4.81. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 77.98 and a beta of 1.50.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, March 5th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.09). Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. The company had revenue of $302.20 million for the quarter, compared to the consensus estimate of $301.65 million. As a group, equities analysts anticipate that Fortuna Silver Mines Inc. will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Fortuna Silver Mines

Several hedge funds have recently made changes to their positions in FSM. The Manufacturers Life Insurance Company grew its position in Fortuna Silver Mines by 323.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company’s stock worth $5,005,000 after purchasing an additional 821,495 shares in the last quarter. Quantbot Technologies LP grew its holdings in Fortuna Silver Mines by 239.0% during the third quarter. Quantbot Technologies LP now owns 355,474 shares of the basic materials company’s stock valued at $1,646,000 after purchasing an additional 250,618 shares during the last quarter. De Lisle Partners LLP bought a new position in Fortuna Silver Mines in the 3rd quarter worth $1,672,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Fortuna Silver Mines in the third quarter worth $1,347,000. Finally, Walleye Capital LLC lifted its position in shares of Fortuna Silver Mines by 1,041.9% in the 3rd quarter. Walleye Capital LLC now owns 90,400 shares of the basic materials company’s stock worth $419,000 after acquiring an additional 99,998 shares during the period. 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.