Stock traders buy high volume of Fortuna Silver Mines call options (NYSE:FSM)

Fortuna Silver Mines Inc. (NYSE:FSM – Get Rating) (TSE:FVI) saw unusually large options trades on Thursday. Stock traders bought 2,516 call options on the stock. This represents an increase of approximately 59% from the typical daily volume of 1,582 call options.

Fortuna Silver Mine Price Performance

The FSM lost $0.08 during Thursday’s trading, hitting $2.58. 86,039 shares were traded, against an average volume of 5,037,691. Fortuna Silver Mines has a 1-year low of $2.05 and a 1-year high of $5.52. The company has a market capitalization of $751.97 million, a price-earnings ratio of 17.73 and a beta of 1.16. The company’s 50-day moving average price is $2.54 and its two-hundred-day moving average price is $2.89. The company has a debt ratio of 0.16, a current ratio of 2.26 and a quick ratio of 1.58.

Fortuna Silver Mines (NYSE:FSM – Get Rating) (TSE:FVI) last released quarterly earnings data on Wednesday, August 10. The basic materials company reported EPS of $0.01 for the quarter, missing analyst consensus estimates of $0.07 per ($0.06). Fortuna Silver Mines had a net margin of 6.26% and a return on equity of 6.06%. The company had revenue of $167.87 million in the quarter. As a group, equity research analysts expect Fortuna Silver Mines to post 0.15 earnings per share for the current year.

Institutional investors weigh in on Fortuna Silver Mines

A number of institutional investors and hedge funds have recently bought and sold shares of FSM. Assenagon Asset Management SA increased its holdings of Fortuna Silver Mines shares by 9.1% in the first quarter. Assenagon Asset Management SA now owns 34,846 shares of the basic materials company worth $133,000 after acquiring 2,898 additional shares in the last quarter. Profund Advisors LLC increased its stake in Fortuna Silver Mines by 21.9% in Q1. Profund Advisors LLC now owns 26,473 shares of the basic materials company valued at $101,000 after buying 4,756 additional shares in the last quarter. AE Wealth Management LLC increased its holdings in Fortuna Silver Mines by 11.9% in the third quarter. AE Wealth Management LLC now owns 47,130 shares of the basic materials company valued at $119,000 after buying an additional 5,000 shares last quarter. Mackenzie Financial Corp increased its stake in Fortuna Silver Mines shares by 5.3% during the third quarter. Mackenzie Financial Corp now owns 122,258 shares of the basic materials company worth $306,000 after buying 6,139 more shares in the last quarter. Finally, CIBC Asset Management Inc. increased its holdings of Fortuna Silver Mines shares by 2.9% in the first quarter. CIBC Asset Management Inc. now owns 253,196 shares of the basic materials company worth $963,000 after purchasing an additional 7,210 shares last quarter. Hedge funds and other institutional investors hold 27.92% of the company’s shares.

Analysts set new price targets

A number of analysts have weighed in on the company recently. BMO Capital Markets lowered its price target on Fortuna Silver Mines from C$6.25 to C$5.75 in a Thursday, August 11 research note. StockNews.com took over coverage of Fortuna Silver Mines stocks in a Wednesday, October 12 research note. They have set a “holding” rating on the stock. Finally, National Bank Financial raised its price target on Fortuna Silver Mines shares from C$4.25 to C$4.75 in a Thursday, October 13 research note. One equity research analyst has assigned the stock a sell rating, two have assigned a hold rating and four have assigned the stock a buy rating. According to MarketBeat.com, Fortuna Silver Mines currently has a consensus rating of “Hold” and an average target price of $5.33.

Fortuna Silver Mines Company Profile

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Fortuna Silver Mines Inc engages in the acquisition, exploration and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru and Ivory Coast. It holds interests in the Caylloma silver, lead and zinc mine located in southern Peru; the San Jose silver and gold mine located in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine located in southwestern Burkina Faso; and the Séguéla gold mine located in southwestern Côte d’Ivoire.

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