Fortuna Silver Mines (NYSE:FSM) Trading Up 5.5% – Here’s Why

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) were up 5.5% during trading on Tuesday . The company traded as high as $4.81 and last traded at $4.79. Approximately 1,886,185 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 6,384,151 shares. The stock had previously closed at $4.54.

Analysts Set New Price Targets

Separately, Scotiabank raised their price objective on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th.

Fortuna Silver Mines Price Performance

The stock has a market capitalization of $1.57 billion, a P/E ratio of 61.01 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The firm has a 50-day moving average price of $4.84 and a 200 day moving average price of $4.93.

Institutional Trading of Fortuna Silver Mines

Several institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. purchased a new stake in shares of Fortuna Silver Mines during the third quarter valued at approximately $29,000. Banque Cantonale Vaudoise bought a new position in shares of Fortuna Silver Mines during the second quarter valued at about $36,000. Private Advisor Group LLC purchased a new stake in shares of Fortuna Silver Mines during the third quarter worth about $50,000. Hohimer Wealth Management LLC bought a new stake in shares of Fortuna Silver Mines in the second quarter worth about $54,000. Finally, Choreo LLC purchased a new position in Fortuna Silver Mines during the 2nd quarter valued at about $59,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

About Fortuna Silver Mines

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.