Fortuna Silver Mines (NYSE:FSM) has tumbled 4.31% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.81% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.16%. Fortuna Silver Mines (NYSE:FSM) has underperformed the index by 0.11% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Fortuna Silver Mines (NYSE:FSM): The stock opened at $6.37 on Friday but the bulls could not build on the opening and the stock topped out at $6.50 for the day. The stock traded down to $6.13 during the day, due to lack of any buying support eventually closed down at $6.22 with a loss of -0.16% for the day. The stock had closed at $6.23 on the previous day. The total traded volume was 8,190,642 shares.
The company shares have rallied 58.27% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $6.87 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $6.13 and the 200 Day Moving Average price is recorded at $4.07.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm BMO Capital downgrades its rating on Fortuna Silver Mines (NYSE:FSM). The rating major has initiated the coverage with market perform rating on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on May 12, 2016. Institutional Investors own 43.15% of Fortuna Silver Mines shares.
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.