Canaccord Genuity Group Upgrades Fortuna Silver Mining (FSM) Stock to a BUY

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Price Targets.com reports.

Several other equities analysts also recently weighed in on FSM. downgraded shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Thursday, November 11th. Zacks Investment Research downgraded shares of Fortuna Silver Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 12th. CIBC dropped their target price on shares of Fortuna Silver Mines from C$9.00 to C$8.00 and set a “neutral” rating for the company in a report on Wednesday, October 13th. National Bank Financial dropped their target price on shares of Fortuna Silver Mines from C$7.00 to C$6.50 and set a “sector perform” rating for the company in a report on Monday, November 15th. Finally, BMO Capital Markets upgraded shares of Fortuna Silver Mines from a “market perform” rating to an “outperform” rating and set a $7.25 target price for the company in a report on Monday, December 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.54.

Shares of NYSE FSM opened at $4.00 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.05. Fortuna Silver Mines has a 52 week low of $2.91 and a 52 week high of $9.85. The firm has a 50-day moving average price of $3.68 and a 200 day moving average price of $4.23. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 12.90 and a beta of 1.32.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Thursday, November 11th. The basic materials company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). Fortuna Silver Mines had a net margin of 12.04% and a return on equity of 10.32%. The company had revenue of $162.57 million during the quarter. During the same period last year, the business earned $0.09 EPS. Equities research analysts expect that Fortuna Silver Mines will post 0.49 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of FSM. Van ECK Associates Corp grew its holdings in shares of Fortuna Silver Mines by 56.2% during the third quarter. Van ECK Associates Corp now owns 31,675,311 shares of the basic materials company’s stock worth $124,484,000 after buying an additional 11,392,117 shares in the last quarter. Morgan Stanley grew its holdings in Fortuna Silver Mines by 320.3% in the second quarter. Morgan Stanley now owns 1,561,273 shares of the basic materials company’s stock valued at $8,666,000 after purchasing an additional 1,189,826 shares during the period. U S Global Investors Inc. grew its holdings in Fortuna Silver Mines by 470.3% in the third quarter. U S Global Investors Inc. now owns 1,140,628 shares of the basic materials company’s stock valued at $4,478,000 after purchasing an additional 940,628 shares during the period. Marshall Wace LLP purchased a new stake in Fortuna Silver Mines in the second quarter valued at approximately $4,415,000. Finally, Renaissance Technologies LLC purchased a new stake in Fortuna Silver Mines in the third quarter valued at approximately $2,325,000. Institutional investors and hedge funds own 26.01% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines, Inc engages in the exploration, extraction and processing of precious and base metal in Latin America. It operates through the following segments: Minera Bateas SAC (Bateas), Compania Minera Cuzcatlan SA de C.V. (Cuzcatian), Mansfield Minera SA (Mansfield), and Corporate. The Beates segment operates the Caylloma silver, lead, and zinc mine.

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Author: ETF Daily News Team