Fortuna Silver Mines Inc (NYSE:FSM) Receives $9.24 Average Price Target from Brokerages

Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) has received a consensus rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.24.

A number of research analysts have issued reports on the stock. National Bank Financial reaffirmed a “hold” rating and issued a $10.50 target price on shares of Fortuna Silver Mines in a report on Thursday, July 23rd. CIBC increased their target price on shares of Fortuna Silver Mines from $10.00 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, September 16th. Pi Financial raised shares of Fortuna Silver Mines from a “neutral” rating to a “buy” rating in a report on Friday, August 28th. Zacks Investment Research raised shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a report on Wednesday. Finally, Laurentian reaffirmed a “buy” rating and issued a $11.35 target price on shares of Fortuna Silver Mines in a report on Tuesday, August 18th.

Shares of NYSE:FSM opened at $6.88 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.97 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.27 billion, a P/E ratio of 688.69 and a beta of 1.34. Fortuna Silver Mines has a 52 week low of $1.47 and a 52 week high of $7.95. The company has a 50-day moving average price of $6.88 and a 200 day moving average price of $5.09.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. Fortuna Silver Mines had a net margin of 0.50% and a return on equity of 0.86%. The firm had revenue of $44.48 million during the quarter. Analysts expect that Fortuna Silver Mines will post 0.1 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Paloma Partners Management Co purchased a new position in shares of Fortuna Silver Mines during the 1st quarter worth approximately $58,000. BlackRock Inc. grew its stake in Fortuna Silver Mines by 237.1% in the 1st quarter. BlackRock Inc. now owns 26,102 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 18,359 shares during the period. Integrated Advisors Network LLC purchased a new stake in Fortuna Silver Mines in the 2nd quarter worth approximately $260,000. APG Asset Management N.V. purchased a new stake in Fortuna Silver Mines in the 1st quarter worth approximately $684,000. Finally, Schroder Investment Management Group grew its stake in Fortuna Silver Mines by 163.2% in the 1st quarter. Schroder Investment Management Group now owns 780,655 shares of the basic materials company’s stock worth $2,506,000 after acquiring an additional 484,055 shares during the period. 37.85% of the stock is owned by institutional investors and hedge funds.

About Fortuna Silver Mines

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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Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

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