Scotiabank Lowers Fortuna Silver Mines (NYSE:FSM) Price Target to $6.00

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) had its price objective cut by equities researchers at Scotiabank from $6.75 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price would suggest a potential upside of 39.70% from the company’s current price. Scotiabank also issued estimates for Fortuna Silver Mines’ FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.46 EPS.

Fortuna Silver Mines Stock Performance

NYSE:FSM opened at $4.30 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $4.62 and its 200 day simple moving average is $4.73. The stock has a market cap of $1.32 billion, a P/E ratio of 53.69 and a beta of 1.55. Fortuna Silver Mines has a twelve month low of $2.63 and a twelve month high of $6.36.

Institutional Trading of Fortuna Silver Mines

Several large investors have recently bought and sold shares of FSM. Van ECK Associates Corp raised its position in shares of Fortuna Silver Mines by 2.6% in the 3rd quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock worth $141,511,000 after acquiring an additional 788,703 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Fortuna Silver Mines by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock worth $29,865,000 after purchasing an additional 346,008 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in Fortuna Silver Mines by 165.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock valued at $27,176,000 after buying an additional 3,467,562 shares during the period. Tidal Investments LLC boosted its holdings in shares of Fortuna Silver Mines by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 5,377,373 shares of the basic materials company’s stock valued at $24,897,000 after buying an additional 92,764 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Fortuna Silver Mines by 94.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock worth $25,173,000 after buying an additional 2,507,249 shares during the period. 33.80% of the stock is owned by 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.