Fortuna Silver Mines Inc. (FSM) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) from a sell rating to a hold rating in a research note released on Monday.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

A number of other equities research analysts also recently weighed in on FSM. TheStreet raised shares of Fortuna Silver Mines from a d+ rating to a c rating in a report on Monday, February 6th. Canaccord Genuity raised shares of Fortuna Silver Mines from a hold rating to a buy rating in a report on Monday, October 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $9.00.

Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

Shares of Fortuna Silver Mines (NYSE:FSM) traded down 0.62% during midday trading on Monday, reaching $6.44. 386,768 shares of the company traded hands. The stock’s 50-day moving average is $6.33 and its 200-day moving average is $6.99. The stock’s market capitalization is $941.72 million. Fortuna Silver Mines has a 1-year low of $3.15 and a 1-year high of $9.75.

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Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new stake in Fortuna Silver Mines during the third quarter worth approximately $3,104,000. Swiss National Bank boosted its stake in shares of Fortuna Silver Mines by 2.6% in the third quarter. Swiss National Bank now owns 234,300 shares of the company’s stock valued at $1,699,000 after buying an additional 5,900 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Fortuna Silver Mines by 81.2% in the third quarter. TD Asset Management Inc. now owns 573,162 shares of the company’s stock valued at $4,147,000 after buying an additional 256,762 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in shares of Fortuna Silver Mines during the third quarter valued at about $191,000. Finally, AGF Investments Inc. boosted its stake in shares of Fortuna Silver Mines by 3.8% in the second quarter. AGF Investments Inc. now owns 475,407 shares of the company’s stock valued at $3,322,000 after buying an additional 17,600 shares in the last quarter. Institutional investors own 48.03% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

5 Day Chart for NYSE:FSM

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