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Fortuna Silver Mines Inc. (NYSE: FSM) Prices Could Soar To Much Higher Levels In Coming Months

In the latest trading session, 1.37 million Fortuna Silver Mines Inc. (NYSE:FSM) shares changed hands as the company’s beta touched 0. With the company’s…

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This article was originally published by The Marketing Sentinal

In the latest trading session, 1.37 million Fortuna Silver Mines Inc. (NYSE:FSM) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $3.56 changed hands at -$0.07 or -2.07% at last look, the market valuation stands at $1.05B. FSM’s current price is a discount, trading about -31.46% off its 52-week high of $4.68. The share price had its 52-week low at $2.05, which suggests the last value was 42.42% up since then. When we look at Fortuna Silver Mines Inc.’s average trading volume, we note the 10-day average is 4.58 million shares, with the 3-month average coming to 4.88 million.

Analysts gave the Fortuna Silver Mines Inc. (FSM) stock a consensus recommendation rating of an Overweight. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended FSM as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Fortuna Silver Mines Inc.’s EPS for the current quarter is expected to be $0.03.

Fortuna Silver Mines Inc. (NYSE:FSM) trade information

Instantly FSM was in red as seen in intraday trades today. With action 5.52%, the performance over the past five days has been green. The drop to weekly highs of 3.69 on Friday, 11/25/22 subtracted -2.07% to the stock’s daily price. The company’s shares are showing year-to-date downside of -6.92%, with the 5-day performance at 5.52% in the green. However, in the 30-day time frame, Fortuna Silver Mines Inc. (NYSE:FSM) is 24.32% up. Looking at the short shares, we see there were 13.0 million shares sold at short interest cover period of 2.26 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.10, meaning bulls need an upside of 13.17% from its recent market value. According to analyst projections, FSM’s forecast low is $3.75 with $4.50 as the target high. To hit the forecast high, the stock’s price needs a -26.4% plunge from its current level, while the stock would need to soar -5.34% for it to hit the projected low.

Fortuna Silver Mines Inc. (FSM) estimates and forecasts

Data shows that the Fortuna Silver Mines Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 5.22% over the past 6 months, a -65.00% in annual growth rate that is considerably lower than the industry average of -21.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Fortuna Silver Mines Inc. will fall -62.50%, while the growth in revenue is estimated to hit -75.00% for the next quarter. Year-over-year growth is forecast to reach 13.20% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $161.1 million. 1 analysts are of the opinion that Fortuna Silver Mines Inc.’s revenue for the quarter ending Dec 2022 will be $160.3 million. The estimates for the next quarter sales put growth at -19.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -4.22%. The 2022 estimates are for Fortuna Silver Mines Inc. earnings to decrease by -65.00%.

FSM Dividends

Fortuna Silver Mines Inc. is expected to release its next quarterly earnings report on November 10.

Fortuna Silver Mines Inc. (NYSE:FSM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.09% of Fortuna Silver Mines Inc. shares while 37.37% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 37.78%. There are 37.37% institutions holding the Fortuna Silver Mines Inc. stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2022, the company held 10.65% of the shares, roughly 31.03 million FSM shares worth $88.12 million.

Mirae Asset Global Investments Co., Ltd. holds the second largest percentage of outstanding shares, with 2.60% or 7.58 million shares worth $21.53 million as of Jun 29, 2022.

Among Mutual Funds, the top two as of Sep 29, 2022 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 14.95 million shares estimated at $37.69 million under it, the former controlled 5.13% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 4.22% of the shares, roughly 12.31 million shares worth around $31.03 million.

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