Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI)’s share price dropped 5.8% during trading on Wednesday . The company traded as low as $4.36 and last traded at $4.38. Approximately 1,253,370 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 867,093 shares. The stock had previously closed at $4.65.

FSM has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating and set a $6.25 target price on the stock in a research note on Wednesday, July 11th. Finally, National Bank Financial downgraded shares of Fortuna Silver Mines from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Fortuna Silver Mines currently has an average rating of “Hold” and a consensus target price of $6.13.

The company has a current ratio of 5.10, a quick ratio of 4.75 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $762.25 million, a P/E ratio of 14.10 and a beta of -0.07.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, August 8th. The basic materials company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The company had revenue of $73.67 million during the quarter. Fortuna Silver Mines had a return on equity of 8.57% and a net margin of 24.48%. equities analysts forecast that Fortuna Silver Mines Inc will post 0.23 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors bought a new position in shares of Fortuna Silver Mines during the second quarter valued at approximately $144,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Fortuna Silver Mines during the second quarter valued at approximately $239,000. BlackRock Inc. boosted its stake in shares of Fortuna Silver Mines by 124.1% during the second quarter. BlackRock Inc. now owns 32,705 shares of the basic materials company’s stock valued at $186,000 after purchasing an additional 18,114 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Fortuna Silver Mines during the second quarter valued at approximately $215,000. Finally, Trexquant Investment LP bought a new position in shares of Fortuna Silver Mines during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 40.65% of the company’s stock.

Fortuna Silver Mines Company Profile (NYSE:FSM)

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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