Fortuna Silver Mines (NYSE:FSM) Releases Quarterly Earnings Results, Hits Expectations

Fortuna Silver Mines (NYSE:FSM – Get Rating) (TSE:FVI) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02, Yahoo Finance reports. Fortuna Silver Mines had a return on equity of 4.63% and a net margin of 5.76%. The company had revenue of $164.70 million for the quarter, compared to the consensus estimate of $152.00 million. During the same quarter in the prior year, the business earned $0.10 EPS.

Fortuna Silver Mines Stock Performance

Shares of NYSE FSM traded up $0.14 during trading hours on Friday, reaching $3.36. The stock had a trading volume of 2,843,406 shares, compared to its average volume of 3,857,864. The firm has a market cap of $975.31 million, a price-to-earnings ratio of 23.00 and a beta of 1.25. The company has a current ratio of 1.93, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15. Fortuna Silver Mines has a fifty-two week low of $2.05 and a fifty-two week high of $4.56. The firm has a 50-day moving average of $3.54 and a 200-day moving average of $3.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. CIBC upped their price target on Fortuna Silver Mines from C$5.85 to C$6.00 in a report on Tuesday, February 7th. StockNews.com initiated coverage on Fortuna Silver Mines in a report on Thursday. They set a “sell” rating on the stock. BMO Capital Markets lowered their price objective on Fortuna Silver Mines from C$6.50 to C$6.25 in a research report on Tuesday, January 31st. Finally, National Bank Financial lowered their price objective on Fortuna Silver Mines from C$6.00 to C$5.75 in a research report on Tuesday, February 14th.

Institutional Trading of Fortuna Silver Mines

Large investors have recently made changes to their positions in the company. First Trust Advisors LP acquired a new stake in Fortuna Silver Mines during the 3rd quarter worth approximately $26,000. Northern Trust Corp acquired a new stake in Fortuna Silver Mines during the 2nd quarter worth approximately $28,000. Bank of New York Mellon Corp lifted its position in Fortuna Silver Mines by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 13,530 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 2,955 shares during the period. Citigroup Inc. acquired a new stake in Fortuna Silver Mines during the 1st quarter worth approximately $38,000. Finally, Creative Planning acquired a new stake in Fortuna Silver Mines during the 4th quarter worth approximately $41,000. 26.79% of the stock is owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

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Fortuna Silver Mines, Inc engages in the exploration, extraction and processing of precious and base metal in Latin America. It operates through the following segments: Minera Bateas SAC (Bateas), Compania Minera Cuzcatlan SA de C.V. (Cuzcatian), Mansfield Minera SA (Mansfield), and Corporate. The Beates segment operates the Caylloma silver, lead, and zinc mine.