Fortuna Silver Mines (FSM) : Traders are bullish on Fortuna Silver Mines (FSM) as it has outperformed the S&P 500 by a wide margin of 4.27% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.36%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.42% in the last 1 week, and is up 5.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.66% and the 50-Day Moving Average is 18.89%. Fortuna Silver Mines (NYSE:FSM): On Fridays trading session , Opening price of the stock was $9.37 with an intraday high of $9.41. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $8.98. However, the stock managed to close at $9.07, a loss of 1.09% for the day. On the previous day, the stock had closed at $9.17. The total traded volume of the day was 978,409 shares.
Institutional Investors own 41.86% of Fortuna Silver Mines shares. Also, BMO Capital downgrades its rating on Fortuna Silver Mines (NYSE:FSM). Analysts at the BMO Capital have a current rating of Market Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on May 12, 2016.
Fortuna Silver Mines Inc. (Fortuna) is a Canada-based mining company, which is engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company is engaged in the mining and processing of silver-lead, zinc and silver-gold products, and the sale of these products. The Company operates the Caylloma mine and the San Jose mine. Caylloma is an underground silver, lead and zinc mine located in southern Peru, in the Arequipa Department. San Jose is an underground silver-gold mine located in southern Mexico in the State of Oaxaca. The Company operates in Canada, Peru and Mexico. The Companys subsidiaries include Minera Bateas S.A.C., Fortuna Silver Mines Peru S.A.C., Compania Minera Cuzcatlan SA, Fortuna Silver Mexico, S.A. de CV., Fortuna Silver (Barbados) Inc. and Continuum Resources Ltd.