Fortuna Silver Mines Inc. [FSM] moved up 3.31: Why It’s Important

Fortuna Silver Mines Inc. [NYSE: FSM] gained 3.31% or 0.08 points to close at $2.50 with a heavy trading volume of 4453977 shares. The company report on August 17, 2022 that Fortuna announces changes in management team.


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Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) announces the voluntary resignation of Paul Criddle from the position of Chief Operating Officer – West Africa effective September 30, 2022. Paul presented his resignation due to personal reasons and will remain as a senior advisor to the Company until the completion of the construction of the Séguéla Mine in Cote d´Ivoire.

Paul joined Fortuna on July 2, 2021, after the completion of the acquisition of Roxgold Inc. (refer to Fortuna news release dated July 2, 2021), and has made significant contributions to the seamless integration of both companies, while spearheading the construction of the Séguéla Mine in Côte d´Ivoire. The overall project was 66 percent complete as of June 30, 2022.

It opened the trading session at $2.42, the shares rose to $2.57 and dropped to $2.42, the range by which the price of stock traded the whole day. The daily chart for FSM points out that the company has recorded -29.38% loss over the past six months. However, it is still -5.93% lower than its most recent low trading price.

If we look at the average trading volume of 5.04M shares, FSM reached to a volume of 4453977 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Fortuna Silver Mines Inc. [FSM]:

Canaccord Genuity have made an estimate for Fortuna Silver Mines Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 18, 2022. The new note on the price target was released on November 12, 2021, representing the official price target for Fortuna Silver Mines Inc. stock.

The Average True Range (ATR) for Fortuna Silver Mines Inc. is set at 0.14, with the Price to Sales ratio for FSM stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 0.54.

Trading performance analysis for FSM stock

Fortuna Silver Mines Inc. [FSM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.06. With this latest performance, FSM shares dropped by -0.40% in over the last four-week period, additionally sinking by -29.38% over the last 6 months – not to mention a drop of -39.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FSM stock in for the last two-week period is set at 40.65, with the RSI for the last a single of trading hit 38.66, and the three-weeks RSI is set at 41.80 for Fortuna Silver Mines Inc. [FSM]. The present Moving Average for the last 50 days of trading for this stock 2.79, while it was recorded at 2.48 for the last single week of trading, and 3.49 for the last 200 days.

An analysis of insider ownership at Fortuna Silver Mines Inc. [FSM]

There are presently around $204 million, or 36.49% of FSM stock, in the hands of institutional investors. The top three institutional holders of FSM stocks are: VAN ECK ASSOCIATES CORP with ownership of 31,027,346, which is approximately 1.097% of the company’s market cap and around 0.90% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 7,580,911 shares of the stock with an approximate value of $18.95 million in FSM stocks shares; and CITADEL ADVISORS LLC, currently with $8.79 million in FSM stock with ownership of nearly 307.37% of the company’s market capitalization.

Positions in Fortuna Silver Mines Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 51 institutional holders increased their position in Fortuna Silver Mines Inc. [NYSE:FSM] by around 9,568,941 shares. Additionally, 67 investors decreased positions by around 12,663,836 shares, while 30 investors held positions by with 59,362,941 shares. The mentioned changes placed institutional holdings at 81,595,718 shares, according to the latest SEC report filing. FSM stock had 16 new institutional investments in for a total of 1,599,850 shares, while 23 institutional investors sold positions of 2,088,281 shares during the same period.

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