Fortuna Silver Mines (NYSE:FSM) Price Target Lowered to $6.00 at Scotiabank

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its price objective lowered by Scotiabank from $6.75 to $6.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock. Scotiabank also issued estimates for Fortuna Silver Mines’ FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.46 EPS.

Fortuna Silver Mines Stock Performance

Shares of FSM stock opened at $4.48 on Wednesday. Fortuna Silver Mines has a 12-month low of $2.63 and a 12-month high of $6.36. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 56.01 and a beta of 1.55. The business has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $4.73. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

Hedge Funds Weigh In On Fortuna Silver Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in Fortuna Silver Mines during the 3rd quarter valued at $29,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Fortuna Silver Mines during the 4th quarter valued at $45,000. Private Advisor Group LLC acquired a new stake in shares of Fortuna Silver Mines during the 3rd quarter valued at $50,000. Choreo LLC acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at $59,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at $92,000. 33.80% of the stock is owned by institutional investors.

Fortuna Silver Mines Company Profile

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.