Fortuna Silver Mines (FSM) Lifted to Hold at Zacks Investment Research

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

Other research analysts also recently issued research reports about the stock. TheStreet downgraded shares of Fortuna Silver Mines from a “b” rating to a “c+” rating in a research report on Tuesday, October 16th. ValuEngine upgraded shares of Fortuna Silver Mines from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 18th.

NYSE FSM traded up $0.06 during trading hours on Monday, hitting $3.27. The company’s stock had a trading volume of 891,200 shares, compared to its average volume of 848,673. Fortuna Silver Mines has a twelve month low of $3.16 and a twelve month high of $6.08. The firm has a market capitalization of $513.34 million, a P/E ratio of 10.55 and a beta of 0.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.43 and a quick ratio of 4.04.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Thursday, November 8th. The basic materials company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Fortuna Silver Mines had a net margin of 23.63% and a return on equity of 7.24%. The firm had revenue of $59.60 million during the quarter. Sell-side analysts expect that Fortuna Silver Mines will post 0.21 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Fortuna Silver Mines by 15.6% during the 3rd quarter. Bank of Montreal Can now owns 2,174,369 shares of the basic materials company’s stock worth $9,501,000 after buying an additional 293,634 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its stake in shares of Fortuna Silver Mines by 10.1% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,358,960 shares of the basic materials company’s stock worth $19,019,000 after buying an additional 398,357 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter worth about $330,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter worth about $144,000. Finally, Ramsey Quantitative Systems lifted its stake in shares of Fortuna Silver Mines by 349.1% during the 3rd quarter. Ramsey Quantitative Systems now owns 29,306 shares of the basic materials company’s stock worth $128,000 after buying an additional 22,780 shares during the last quarter. Institutional investors own 45.34% of the company’s stock.

Fortuna Silver Mines Company Profile

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.

Further Reading: Dollar Cost Averaging

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