Fortuna Silver Mines (NYSE:FSM) Price Target Raised to $6.50

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its target price raised by Scotiabank from $6.00 to $6.50 in a research report sent to investors on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company’s stock.

Separately, StockNews.com raised shares of Fortuna Silver Mines from a hold rating to a buy rating in a research note on Wednesday, May 8th.

Fortuna Silver Mines Trading Up 1.0 %

Shares of NYSE:FSM opened at $4.92 on Monday. The company has a 50 day moving average price of $4.83 and a 200 day moving average price of $4.44. Fortuna Silver Mines has a 1-year low of $2.58 and a 1-year high of $6.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.76 and a current ratio of 1.27. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -44.82 and a beta of 1.57.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of Fortuna Silver Mines by 160.0% during the 4th quarter. Raymond James & Associates now owns 64,485 shares of the basic materials company’s stock valued at $249,000 after buying an additional 39,682 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Fortuna Silver Mines by 19.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,280 shares of the basic materials company’s stock valued at $233,000 after buying an additional 9,837 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Fortuna Silver Mines during the 4th quarter valued at $171,000. Van ECK Associates Corp boosted its stake in shares of Fortuna Silver Mines by 7.9% during the 4th quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company’s stock valued at $125,050,000 after buying an additional 2,361,636 shares during the period. Finally, National Bank of Canada FI boosted its stake in shares of Fortuna Silver Mines by 7.8% during the 4th quarter. National Bank of Canada FI now owns 1,117,873 shares of the basic materials company’s stock valued at $4,163,000 after buying an additional 80,856 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Silver Mines Company Profile

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.