StockNews.com Begins Coverage on Fortuna Silver Mines (NYSE:FSM)

StockNews.com initiated coverage on shares of Fortuna Silver Mines (NYSE:FSM – Get Rating) (TSE:FVI) in a report issued on Thursday. The firm issued a sell rating on the basic materials company’s stock.

Several other research firms have also issued reports on FSM. National Bank Financial lowered their price objective on shares of Fortuna Silver Mines from C$6.00 to C$5.75 in a research report on Tuesday, February 14th. BMO Capital Markets lowered their price objective on shares of Fortuna Silver Mines from C$6.50 to C$6.25 in a research report on Tuesday, January 31st. Finally, CIBC lifted their price objective on shares of Fortuna Silver Mines from C$5.85 to C$6.00 in a research report on Tuesday, February 7th.

Fortuna Silver Mines Stock Performance

Fortuna Silver Mines stock opened at $3.45 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.93. Fortuna Silver Mines has a 1 year low of $2.05 and a 1 year high of $4.56. The firm’s 50 day moving average price is $3.53 and its two-hundred day moving average price is $3.25.

Fortuna Silver Mines (NYSE:FSM – Get Rating) (TSE:FVI) last posted its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $164.70 million for the quarter, compared to analyst estimates of $152.00 million. Fortuna Silver Mines had a negative net margin of 19.92% and a positive return on equity of 3.10%. During the same quarter in the previous year, the business posted $0.10 earnings per share. Sell-side analysts forecast that Fortuna Silver Mines will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortuna Silver Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSM. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Fortuna Silver Mines by 4.8% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 62,103 shares of the basic materials company’s stock valued at $233,000 after buying an additional 2,847 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Fortuna Silver Mines by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 13,530 shares of the basic materials company’s stock valued at $34,000 after buying an additional 2,955 shares during the period. Advisor Group Holdings Inc. boosted its stake in shares of Fortuna Silver Mines by 44.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 11,465 shares of the basic materials company’s stock valued at $44,000 after buying an additional 3,510 shares during the period. AE Wealth Management LLC boosted its stake in shares of Fortuna Silver Mines by 11.9% during the 3rd quarter. AE Wealth Management LLC now owns 47,130 shares of the basic materials company’s stock valued at $119,000 after buying an additional 5,000 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Fortuna Silver Mines by 4.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 124,208 shares of the basic materials company’s stock valued at $467,000 after buying an additional 5,691 shares during the period. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Silver Mines Company Profile

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Fortuna Silver Mines, Inc engages in the exploration, extraction and processing of precious and base metal in Latin America. It operates through the following segments: Minera Bateas SAC (Bateas), Compania Minera Cuzcatlan SA de C.V. (Cuzcatian), Mansfield Minera SA (Mansfield), and Corporate. The Beates segment operates the Caylloma silver, lead, and zinc mine.