Fortuna Silver Mines Inc. (FSM) Coverage Initiated by Analysts at Canaccord Genuity

Canaccord Genuity began coverage on shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) in a report published on Thursday, September 7th. The brokerage issued a buy rating on the basic materials company’s stock.

A number of other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a sell rating to a hold rating in a research note on Friday, September 1st. BidaskClub lowered shares of Fortuna Silver Mines from a hold rating to a sell rating in a research note on Saturday, August 5th. National Bank Financial restated an outperform rating on shares of Fortuna Silver Mines in a research note on Monday, May 15th. Finally, ValuEngine lowered shares of Fortuna Silver Mines from a buy rating to a hold rating in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $7.83.

Shares of Fortuna Silver Mines (NYSE:FSM) traded down 1.86% during midday trading on Thursday, reaching $4.75. The company’s stock had a trading volume of 1,498,691 shares. Fortuna Silver Mines has a 52 week low of $4.11 and a 52 week high of $8.21. The stock has a market capitalization of $756.31 million, a price-to-earnings ratio of 18.55 and a beta of 0.22. The company has a 50 day moving average of $4.68 and a 200-day moving average of $4.83.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Monday, August 14th. The basic materials company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $63.90 million for the quarter, compared to analyst estimates of $58.00 million. Fortuna Silver Mines had a net margin of 15.97% and a return on equity of 9.08%. Fortuna Silver Mines’s quarterly revenue was up 43.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) earnings per share. Equities research analysts predict that Fortuna Silver Mines will post $0.27 earnings per share for the current year.

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Institutional investors have recently modified their holdings of the company. Creative Planning increased its stake in shares of Fortuna Silver Mines by 18.5% during the first quarter. Creative Planning now owns 21,781 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 3,400 shares during the period. Exane Derivatives increased its stake in shares of Fortuna Silver Mines by 283.3% during the second quarter. Exane Derivatives now owns 23,000 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 17,000 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Fortuna Silver Mines during the second quarter worth about $147,000. Great West Life Assurance Co. Can increased 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 worth $148,000 after acquiring an additional 561 shares during the period. Finally, OxFORD Asset Management LLP acquired a new position in shares of Fortuna Silver Mines during the second quarter worth about $150,000. Institutional investors and hedge funds own 41.60% of the company’s stock.

About Fortuna Silver Mines

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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