Fortuna Silver Mines Inc. [FSM] moved up 1.05: Why It’s Important

Fortuna Silver Mines Inc. [NYSE: FSM] gained 1.05% or 0.04 points to close at $3.84 with a heavy trading volume of 4110423 shares. 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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It opened the trading session at $3.82, the shares rose to $3.85 and dropped to $3.685, the range by which the price of stock traded the whole day. The daily chart for FSM points out that the company has recorded 52.99% gains over the past six months. However, it is still -87.32% lower than its most recent low trading price.

If we look at the average trading volume of 4.73M shares, FSM reached to a volume of 4110423 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 0.18, with the Price to Sales ratio for FSM stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 0.80.

Trading performance analysis for FSM stock

Fortuna Silver Mines Inc. [FSM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.47. With this latest performance, FSM shares dropped by -1.03% in over the last four-week period, additionally plugging by 52.99% over the last 6 months – not to mention a rise of 4.63% 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 56.26, with the RSI for the last a single of trading hit 59.33, and the three-weeks RSI is set at 55.67 for Fortuna Silver Mines Inc. [FSM]. The present Moving Average for the last 50 days of trading for this stock 3.70, while it was recorded at 3.73 for the last single week of trading, and 3.13 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 $300 million, or 37.38% 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 $32.35 million in FSM stocks shares; and EURO PACIFIC ASSET MANAGEMENT, LLC, currently with $15.5 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 8,061,866 shares. Additionally, 51 investors decreased positions by around 11,575,105 shares, while 30 investors held positions by with 58,372,650 shares. The mentioned changes placed institutional holdings at 78,009,621 shares, according to the latest SEC report filing. FSM stock had 12 new institutional investments in for a total of 370,722 shares, while 19 institutional investors sold positions of 4,741,022 shares during the same period.


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