Fortuna Silver Mines Inc. [NYSE: FSM] gained 1.87% or 0.05 points to close at $2.72 with a heavy trading volume of 3873659 shares. The company report on October 6, 2022 that Fortuna reports production of 101,840 gold equivalent ounces for the third quarter of 2022.
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It opened the trading session at $2.73, the shares rose to $2.75 and dropped to $2.64, the range by which the price of stock traded the whole day. The daily chart for FSM points out that the company has recorded -35.55% loss over the past six months. However, it is still -32.68% lower than its most recent low trading price.
If we look at the average trading volume of 5.02M shares, FSM reached to a volume of 3873659 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 0.17, with the Price to Sales ratio for FSM stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 0.57.
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 -0.73. With this latest performance, FSM shares gained by 12.86% in over the last four-week period, additionally sinking by -35.55% over the last 6 months – not to mention a drop of -39.29% 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 54.96, with the RSI for the last a single of trading hit 54.94, and the three-weeks RSI is set at 53.79 for Fortuna Silver Mines Inc. [FSM]. The present Moving Average for the last 50 days of trading for this stock 2.52, while it was recorded at 2.71 for the last single week of trading, and 3.23 for the last 200 days.
Fortuna Silver Mines Inc. [FSM]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Fortuna Silver Mines Inc. [FSM] shares currently have an operating margin of +26.13 and a Gross Margin at +33.56. Fortuna Silver Mines Inc.’s Net Margin is presently recorded at +9.60.
Return on Equity for this stock inclined to 5.45, with Return on Assets sitting at 3.72.
An analysis of insider ownership at Fortuna Silver Mines Inc. [FSM]
There are presently around $222 million, or 37.29% 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 1.09% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 7,580,911 shares of the stock with an approximate value of $20.62 million in FSM stocks shares; and CITADEL ADVISORS LLC, currently with $9.56 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 October and at the time of the October reporting period, where 54 institutional holders increased their position in Fortuna Silver Mines Inc. [NYSE:FSM] by around 9,611,428 shares. Additionally, 63 investors decreased positions by around 12,182,640 shares, while 30 investors held positions by with 59,778,675 shares. The mentioned changes placed institutional holdings at 81,572,743 shares, according to the latest SEC report filing. FSM stock had 17 new institutional investments in for a total of 1,633,049 shares, while 21 institutional investors sold positions of 2,053,197 shares during the same period.