Fortuna Silver Mines (NYSE:FSM) Stock Price Up 7.8% – Should You Buy?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares shot up 7.8% on Thursday . The company traded as high as $5.04 and last traded at $5.04. 5,266,051 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 10,670,787 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

Separately, Scotiabank lowered their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th.

Fortuna Silver Mines Stock Performance

The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $4.57 and a 200 day moving average price of $4.68. The firm has a market cap of $1.56 billion, a PE ratio of 63.43 and a beta of 1.55.

Hedge Funds Weigh In On Fortuna Silver Mines

Institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in Fortuna Silver Mines by 2.3% in the fourth quarter. CIBC Asset Management Inc now owns 384,567 shares of the basic materials company’s stock valued at $1,647,000 after purchasing an additional 8,633 shares during the period. Savant Capital LLC increased its holdings in Fortuna Silver Mines by 99.3% during the 4th quarter. Savant Capital LLC now owns 47,824 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 23,824 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of Fortuna Silver Mines by 2.7% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company’s stock valued at $1,233,000 after purchasing an additional 7,644 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Fortuna Silver Mines in the 4th quarter valued at about $68,000. Finally, Euro Pacific Asset Management LLC lifted its position in shares of Fortuna Silver Mines by 1.2% during the 4th quarter. Euro Pacific Asset Management LLC now owns 4,365,085 shares of the basic materials company’s stock worth $18,792,000 after buying an additional 50,402 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.