Fortuna Silver Mines (NYSE:FSM) Shares Gap Down to $4.90 (2024)

Fortuna Silver Mines Inc. (NYSE:FSM – Get Free Report) (TSE:FVI) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.90, but opened at $4.68. Fortuna Silver Mines shares last traded at $4.67, with a volume of 901,121 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Scotiabank lifted their price target on Fortuna Silver Mines from $4.75 to $6.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. StockNews.com upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.

Get Our Latest Analysis on Fortuna Silver Mines

Fortuna Silver Mines Price Performance

The company has a 50-day moving average of $5.29 and a 200-day moving average of $4.28. The company has a current ratio of 1.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM – Get Free Report) (TSE:FVI) last issued its quarterly earnings data on Tuesday, May 7th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Fortuna Silver Mines had a positive return on equity of 6.04% and a negative net margin of 3.94%. The company had revenue of $224.95 million during the quarter. Analysts expect that Fortuna Silver Mines Inc. will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of hedge funds have recently bought and sold shares of FSM. Corundum Trust Company INC acquired a new stake in Fortuna Silver Mines during the 2nd quarter worth about $73,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Fortuna Silver Mines in the 1st quarter valued at about $56,000. Tidal Investments LLC increased its position in Fortuna Silver Mines by 11,698.0% in the 1st quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock valued at $18,081,000 after buying an additional 4,807,537 shares in the last quarter. Perritt Capital Management Inc. raised its stake in Fortuna Silver Mines by 40.0% during the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after buying an additional 3,000 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Fortuna Silver Mines in the first quarter worth approximately $159,000. Institutional investors own 33.80% of the company’s stock.

About Fortuna Silver Mines

(Get Free Report)

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.

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