Fortuna Silver Mines Inc. (FSM) Is A Stock You Should Watch

As of Thursday close, Fortuna Silver Mines Inc.’s (NYSE:FSM) stock was up $0.03, moving up 0.81 percent to $3.73. The average number of shares traded per day over the past five days has been 2,662,700 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.06 fall in that time frame. In the last twenty days, the average volume was 3,457,580, while in the previous 50 days, it was 3,548,328.

Since last month, FSM stock retreated -0.27%. Shares of the company fell to $3.54 on 03/28/23, the lowest level in the past month. A 52-week high of $4.20 was reached on 04/13/23 after having rallying from a 52-week low of $2.05. Since the beginning of this year, FSM’s stock price has dropped by -0.53% or -$0.02, and marked a new high 5 times. However, the stock has declined by -11.19% since its 52-week high.

Financial Health

Based on annual data, FSM earned -$113.55 million in gross profit and brought in $681.49 million in revenue.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. FSM’s revenue fell -2.38% during the quarter, while net income inched up to $257.19 million. While analysts expected Fortuna Silver Mines Inc. to report $0.02 quarterly earnings, the actual figure was $0.02 per share. During the quarter, the company generated -$128.61 million in EBITDA. The liabilities of Fortuna Silver Mines Inc. were 587.53 million at the end of its most recent quarter ended December 30, and its total debt was $240.52 million.

Technical Picture

This quick technical analysis looks at Fortuna Silver Mines Inc.’s (FSM) price momentum. With a historical volatility rate of 23.46%, the RSI 9-day stood at 43.88% on 27 April.

With respect to its five-day moving average, the current Fortuna Silver Mines Inc. price is down by -1.58% percent or -$0.06. At present, FSM shares trade +1.08% above its 20-day simple moving average and -2.36% percent below its 100-day simple moving average. However, the stock is currently trading approximately +6.27% above its SMA50 and +45.70% above its SMA200.

Stochastic coefficient K was 17.73% and Stochastic coefficient D was 14.67%, while ATR was 0.13. Given the Stochastic reading of 20.00% for the 14-day period, the RSI (14) reading has been calculated as 48.64%. As of today, the MACD Oscillator reading stands at -0.05, while the 14-day reading stands at -0.14.

Analyst Ratings

Canaccord Genuity upgraded its rating on Fortuna Silver Mines Inc. (NYSE: FSM) to a Buy in a note to investors on January 18, 2022. The analysts firm previously had a Hold rating on the stock.Fortuna Silver Mines Inc. (FSM) has been rated Hold by analysts. According to 0 brokerage firms, FSM is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Fortuna Silver Mines Inc. stock as buy, with 1 recommending it as overweight.

With a median target price of $4.86, the current consensus forecast for the stock is $3.71 – $5.24. Based on these forecasts, analysts predict Fortuna Silver Mines Inc. (FSM) will achieve an average price target of $4.64.

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