Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) experienced a gap down in its stock price before the market opened on Friday. The stock closed at $5.04 the previous day but opened at $4.85. Despite the drop, Fortuna Silver Mines shares were trading at $5.00, with a volume of 364,752 shares.
Several research firms have revised their price targets for FSM. Scotiabank increased their price target from $4.75 to $6.00 and rated the stock as “sector perform.” StockNews.com also upgraded Fortuna Silver Mines from a “hold” to a “buy” rating.
The company’s stock is currently down by 0.4%, with a 50-day moving average of $5.32 and a 200-day moving average of $4.25. Fortuna Silver Mines has a market capitalization of $1.54 billion, a price-to-earnings ratio of -45.63, and a beta of 1.57. The company reported earnings of $0.09 per share for the last quarter, surpassing the consensus estimate by $0.06.
Institutional investors have shown interest in Fortuna Silver Mines, with hedge funds and other institutions increasing their stakes in the company. Perritt Capital Management Inc. grew its holdings by 40%, while other firms like Coppell Advisory Solutions Corp. and B. Riley Wealth Advisors Inc. also acquired shares.
Fortuna Silver Mines engages in precious and base metal mining across various countries, including Argentina, Mexico, and Peru. The company’s flagship project is the Séguéla gold mine in Côte d’Ivoire. With positive earnings and analyst ratings, Fortuna Silver Mines continues to attract investors and industry attention.
