Fortuna Silver Mines (NYSE:FSM) Shares Gap Down to $4.65

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.65, but opened at $4.38. Fortuna Silver Mines shares last traded at $4.56, with a volume of 2,122,492 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently commented on FSM shares. StockNews.com downgraded Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Monday, April 15th. TheStreet cut Fortuna Silver Mines from a “c-” rating to a “d” rating in a research note on Thursday, March 7th. Finally, Scotiabank lifted their price target on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a “sector perform” rating in a research note on Monday, April 8th.

Fortuna Silver Mines Price Performance

The company has a fifty day moving average of $3.62 and a two-hundred day moving average of $3.46. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $265.31 million for the quarter. Fortuna Silver Mines had a negative net margin of 5.99% and a positive return on equity of 5.03%. Equities research analysts anticipate that Fortuna Silver Mines Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fortuna Silver Mines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its position in Fortuna Silver Mines by 26.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 36,540 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 7,700 shares during the period. Sicart Associates LLC increased its holdings in shares of Fortuna Silver Mines by 1.6% in the 3rd quarter. Sicart Associates LLC now owns 766,125 shares of the basic materials company’s stock worth $2,084,000 after acquiring an additional 12,047 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Fortuna Silver Mines by 2.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,420,338 shares of the basic materials company’s stock valued at $20,307,000 after purchasing an additional 155,286 shares during the last quarter. Aire Advisors LLC grew its position in Fortuna Silver Mines by 37.5% in the 3rd quarter. Aire Advisors LLC now owns 55,000 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 15,000 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Fortuna Silver Mines by 5.2% in the third quarter. CIBC Asset Management Inc now owns 277,214 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 13,675 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc 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.