Fortuna Silver Mines Inc (FSM) Given Consensus Recommendation of “Hold” by Analysts

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Shares of Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company.

FSM has been the topic of several recent research reports. Zacks Investment Research raised shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a report on Monday, December 10th. ValuEngine raised shares of Fortuna Silver Mines from a “strong sell” rating to a “sell” rating in a research note on Friday, December 21st. BMO Capital Markets reissued a “buy” rating on shares of Fortuna Silver Mines in a research note on Monday, December 17th. Canaccord Genuity raised shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Finally, CIBC lowered shares of Fortuna Silver Mines from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, March 5th.

A number of hedge funds have recently modified their holdings of FSM. Mirae Asset Global Investments Co. Ltd. acquired a new position in Fortuna Silver Mines during the fourth quarter worth approximately $10,127,000. Global Strategic Management Inc. acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter worth $6,013,000. Renaissance Technologies LLC increased its position in shares of Fortuna Silver Mines by 55.6% in the third quarter. Renaissance Technologies LLC now owns 3,810,700 shares of the basic materials company’s stock worth $16,653,000 after acquiring an additional 1,362,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Fortuna Silver Mines by 32.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,867,342 shares of the basic materials company’s stock worth $10,497,000 after acquiring an additional 698,716 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Fortuna Silver Mines by 38.1% in the third quarter. Morgan Stanley now owns 2,301,755 shares of the basic materials company’s stock worth $10,059,000 after acquiring an additional 635,296 shares in the last quarter. 45.64% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE FSM traded up $0.16 on Friday, hitting $3.80. The company’s stock had a trading volume of 1,873,652 shares, compared to its average volume of 940,526. Fortuna Silver Mines has a 12-month low of $3.16 and a 12-month high of $6.08. The company has a market capitalization of $577.38 million, a PE ratio of 12.26 and a beta of 0.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.43 and a quick ratio of 4.04.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. It explores for silver, gold, lead, and zinc deposits. The company holds interests in the Caylloma mine located in southern Peru; and the San Jose mine situated in the state of Oaxaca in southern Mexico.

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