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 to investors on Tuesday, Zacks.com reports.

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. “

Several other equities analysts have also recently commented on FSM. ValuEngine cut shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Canaccord Genuity upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. They noted that the move was a valuation call. Finally, CIBC cut shares of Fortuna Silver Mines from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Fortuna Silver Mines presently has a consensus rating of “Hold” and a consensus target price of $6.25.

Shares of NYSE:FSM traded up $0.03 during midday trading on Tuesday, hitting $3.07. The stock had a trading volume of 885,100 shares, compared to its average volume of 1,076,719. The stock has a market capitalization of $486.22 million, a PE ratio of 12.79 and a beta of 0.20. The company has a current ratio of 3.57, a quick ratio of 3.34 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines has a fifty-two week low of $3.01 and a fifty-two week high of $5.94.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, March 13th. The basic materials company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $59.60 million during the quarter. Fortuna Silver Mines had a net margin of 12.92% and a return on equity of 5.78%. On average, research analysts predict that Fortuna Silver Mines will post 0.11 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its position in Fortuna Silver Mines by 0.8% during the 4th quarter. CIBC Asset Management Inc now owns 370,987 shares of the basic materials company’s stock worth $1,359,000 after purchasing an additional 2,908 shares in the last quarter. Millennium Management LLC increased its position in Fortuna Silver Mines by 0.9% during the 4th quarter. Millennium Management LLC now owns 876,657 shares of the basic materials company’s stock worth $3,191,000 after purchasing an additional 7,737 shares in the last quarter. Vanguard Group Inc increased its position in Fortuna Silver Mines by 11.6% during the 3rd quarter. Vanguard Group Inc now owns 74,573 shares of the basic materials company’s stock worth $326,000 after purchasing an additional 7,750 shares in the last quarter. James Investment Research Inc. increased its position in Fortuna Silver Mines by 10.9% during the 4th quarter. James Investment Research Inc. now owns 110,445 shares of the basic materials company’s stock worth $402,000 after purchasing an additional 10,815 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Fortuna Silver Mines by 2.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 719,599 shares of the basic materials company’s stock worth $2,639,000 after purchasing an additional 13,800 shares in the last quarter. Institutional investors and hedge funds own 45.64% 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. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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