Could Fortuna Silver Mines Inc. (FSM) See a Reversal After Breaking Its 52-Week High?

April 16, 2018 - By Hannah Black

Fortuna Silver Mines Inc. (NYSE:FSM) Logo

Investors sentiment decreased to 1.18 in 2017 Q4. Its down 0.24, from 1.42 in 2017Q3. It dropped, as 13 investors sold Fortuna Silver Mines Inc. shares while 26 reduced holdings. 20 funds opened positions while 26 raised stakes. 66.36 million shares or 9.81% more from 60.43 million shares in 2017Q3 were reported.
Zurcher Kantonalbank (Zurich Cantonalbank) reported 10,086 shares. Moreover, Renaissance Techs has 0% invested in Fortuna Silver Mines Inc. (NYSE:FSM) for 454,800 shares. Confluence Inv Mngmt Ltd Limited Liability Company has invested 0% of its portfolio in Fortuna Silver Mines Inc. (NYSE:FSM). Bank & Trust Of Nova Scotia holds 23,467 shares. Deutsche Bankshares Ag reported 0% in Fortuna Silver Mines Inc. (NYSE:FSM). Regions Finance Corp reported 125,000 shares or 0.01% of all its holdings. Commerzbank Aktiengesellschaft Fi stated it has 128,634 shares or 0.01% of all its holdings. Rathbone Brothers Public Ltd Company holds 0% of its portfolio in Fortuna Silver Mines Inc. (NYSE:FSM) for 11,000 shares. Carroll Fincl has invested 0% in Fortuna Silver Mines Inc. (NYSE:FSM). Virtu Fincl Ltd invested in 33,999 shares. Scotia Capital invested in 0% or 61,385 shares. 1.83M were accumulated by Td Asset Mngmt. Vanguard Grp holds 0% or 72,632 shares in its portfolio. Toronto Dominion Bancorp reported 75,242 shares stake. Sprott stated it has 1.1% of its portfolio in Fortuna Silver Mines Inc. (NYSE:FSM).

The stock of Fortuna Silver Mines Inc. (NYSE:FSM) hit a new 52-week high and has $6.04 target or 6.00 % above today’s $5.70 share price. The 7 months bullish chart indicates low risk for the $870.94M company. The 1-year high was reported on Apr, 16 by Barchart.com. If the $6.04 price target is reached, the company will be worth $52.26 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.54% or $0.0865 during the last trading session, reaching $5.6965. About 176,099 shares traded. Fortuna Silver Mines Inc. (NYSE:FSM) has risen 3.72% since April 16, 2017 and is uptrending. It has underperformed by 7.83% the S&P500.

Fortuna Silver Mines Inc. (NYSE:FSM) Ratings Coverage

Among 2 analysts covering Fortuna Silver Mines Inc. (NYSE:FSM), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Fortuna Silver Mines Inc. had 2 analyst reports since November 17, 2017 according to SRatingsIntel. The stock has “Outperform” rating by Raymond James on Tuesday, November 21. On Friday, November 17 the stock rating was initiated by BMO Capital Markets with “Outperform”.

Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of mineral properties in Latin America. The company has market cap of $870.94 million. The firm explores for silver, gold, lead, and zinc deposits. It has a 13.56 P/E ratio. It holds interests in the Caylloma mine located in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico, as well as develops the Lindero gold project situated in northwestern Argentina.

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