Fortuna Silver Mines (NYSE:FSM) Price Target Raised to $7.00 at Scotiabank

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its price target lifted by Scotiabank from $6.00 to $7.00 in a report published on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company’s stock.

A number of other equities analysts have also recently weighed in on the company. CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. National Bank Financial raised Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. Finally, Cibc World Mkts cut shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

Fortuna Silver Mines Trading Up 0.8 %

Fortuna Silver Mines stock opened at $6.53 on Monday. The firm has a market cap of $2.00 billion, a PE ratio of 81.64 and a beta of 1.22. Fortuna Silver Mines has a 12 month low of $3.86 and a 12 month high of $6.61. The stock’s 50 day simple moving average is $5.36 and its two-hundred day simple moving average is $4.94. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. The firm had revenue of $302.20 million for the quarter, compared to analysts’ expectations of $301.65 million. Analysts anticipate that Fortuna Silver Mines will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter worth approximately $26,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Fortuna Silver Mines during the 4th quarter worth $34,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter worth $45,000. Bank of Nova Scotia acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at about $46,000. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Fortuna Silver Mines by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock worth $53,000 after buying an additional 2,440 shares in the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

About Fortuna Silver Mines

Fortuna Mining Corp. 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.