Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) has received an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.00.
FSM has been the subject of several recent research reports. TheStreet raised Fortuna Silver Mines from a “c+” rating to a “b” rating in a research note on Wednesday, March 21st. ValuEngine raised Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research note on Thursday, April 19th. Zacks Investment Research raised Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Thursday, March 29th. Finally, National Bank Financial downgraded Fortuna Silver Mines from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Wednesday, May 9th.
Large investors have recently modified their holdings of the business. Ninepoint Partners LP increased its position in Fortuna Silver Mines by 122.4% during the fourth quarter. Ninepoint Partners LP now owns 481,900 shares of the basic materials company’s stock worth $2,516,000 after buying an additional 265,200 shares during the period. CoreCommodity Management LLC purchased a new stake in Fortuna Silver Mines during the fourth quarter valued at about $608,000. The Manufacturers Life Insurance Company grew its position in Fortuna Silver Mines by 65.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,575,939 shares of the basic materials company’s stock valued at $13,446,000 after acquiring an additional 1,019,487 shares during the period. Mackenzie Financial Corp grew its position in Fortuna Silver Mines by 109.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,108,140 shares of the basic materials company’s stock valued at $5,784,000 after acquiring an additional 578,200 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Fortuna Silver Mines during the fourth quarter valued at about $344,000. Institutional investors own 41.39% of the company’s stock.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, May 9th. The basic materials company reported $0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.09. Fortuna Silver Mines had a return on equity of 8.71% and a net margin of 24.53%. The business had revenue of $70.40 million for the quarter, compared to analyst estimates of $63.00 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. equities analysts forecast that Fortuna Silver Mines will post 0.21 earnings per share for the current year.
About Fortuna Silver Mines
Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. It explores for silver, gold, lead, and zinc deposits. The company holds interests in the Caylloma mine located in southern Peru; and the San Jose mine situated in the state of Oaxaca in southern Mexico.
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