How Fortuna Silver Mines Inc. (FSM) Works From A Technical Perspective

Fortuna Silver Mines Inc. (NYSE:FSM) finished Wednesday with a subtraction of -$0.14 to close at $2.58, a downside of -5.15 percent. An average of 4,596,860 shares of common stock have been traded in the last five days. There was a fall of -$0.21 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 5,930,110 shares traded, while the 50-day average volume stands at 4,955,278.

FSM stock has increased by 10.73% in the last month. The company shares reached their 1-month lowest point of $2.05 on 09/26/22. With the stock rallying to its 52-week high on 03/08/22, shares of the company touched a low of $2.05 and a high of $5.52 in 52 weeks. It has reached a new high 7 times so far this year and lost -33.85% or -$1.32 in price. In spite of this, the price is down -53.26% from the 52-week high.

Valuation Metrics

Fortuna Silver Mines Inc. (FSM) has a trailing price-to-earnings (P/E) ratio of 25.80. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.06, the price-to-book (PB) ratio at 0.54.

Financial Health

Its gross profit as reported stood at $136.88 million compared to revenue of $599.85 million.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $23.8 million in the quarter, while revenues were shrunk -42.82%. The analyst consensus anticipated Fortuna Silver Mines Inc.’s latest quarter earnings to come in at $0.1 per share, but it turned out to be $0.11, a 10.00% surprise. For the quarter, EBITDA amounted to $56.09 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Fortuna Silver Mines Inc. (FSM) price momentum. RSI 9-day as of the close was 46.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 57.49%.

As of today, FSM’s price is $2.67 -7.53% or -$0.21 from its 5-day moving average. FSM is currently trading +9.79% higher than its 20-day SMA and -25.22% lower than its 100-day SMA. However, the stock’s current price level is -10.73% below the SMA50 and -34.18% below the SMA200.

The stochastic %K and %D were 47.84% and 53.91%, respectively, and the average true range (ATR) was 0.17. With the 14-day stochastic at 29.94% and the average true range at 0.17, the RSI (14) stands at 49.19%. The stock has reached -0.06 on the 9-day MACD Oscillator while the 14-day reading was at -0.08.

Analyst Ratings

Canaccord Genuity upgraded Fortuna Silver Mines Inc. (NYSE: FSM) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for Fortuna Silver Mines Inc. (FSM) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FSM, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.

What is FSM’s price target for the next 12 months?

Analysts predict a range of price targets between $3.19 and $5.00, with a median target of $3.78. Taking a look at these predictions, the average price target given by analysts for Fortuna Silver Mines Inc. (FSM) stock is $3.84.

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