Fortuna Silver Mines Inc. [FSM] is -6.93% lower this YTD. Is it still time to buy?

Fortuna Silver Mines Inc. [NYSE: FSM] price plunged by -1.41 percent to reach at -$0.05. The company report on January 17, 2023 that Fortuna reports 2022 full year record production of 401,878 gold equivalent ounces and issues 2023 annual guidance.

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A sum of 3987028 shares traded at recent session while its average daily volume was at 4.71M shares. Fortuna Silver Mines Inc. shares reached a high of $3.65 and dropped to a low of $3.49 until finishing in the latest session at $3.49.

Guru’s Opinion on 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 1.42. The Price to Book ratio for the last quarter was 0.73.

FSM Stock Performance Analysis:

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 -5.42. With this latest performance, FSM shares dropped by -5.42% in over the last four-week period, additionally plugging by 28.78% over the last 6 months – not to mention a drop of -4.64% 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 42.73, with the RSI for the last a single of trading hit 37.40, and the three-weeks RSI is set at 46.65 for Fortuna Silver Mines Inc. [FSM]. The present Moving Average for the last 50 days of trading for this stock 3.64, while it was recorded at 3.60 for the last single week of trading, and 3.13 for the last 200 days.

Fortuna Silver Mines Inc. [FSM] Insider Position Details

There are presently around $271 million, or 37.33% 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 30,019,709, which is approximately -3.248% of the company’s market cap and around 0.91% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 8,424,509 shares of the stock with an approximate value of $29.4 million in FSM stocks shares; and EURO PACIFIC ASSET MANAGEMENT, LLC, currently with $14.09 million in FSM stock with ownership of nearly 16.546% of the company’s market capitalization.

Positions in Fortuna Silver Mines Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 55 institutional holders increased their position in Fortuna Silver Mines Inc. [NYSE:FSM] by around 7,562,552 shares. Additionally, 52 investors decreased positions by around 11,558,161 shares, while 30 investors held positions by with 58,387,188 shares. The mentioned changes placed institutional holdings at 77,507,901 shares, according to the latest SEC report filing. FSM stock had 13 new institutional investments in for a total of 398,921 shares, while 20 institutional investors sold positions of 4,741,522 shares during the same period.

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