Canaccord Genuity analyst Dalton Baretto maintained a Buy rating on Fortuna Silver Mines (FSM) yesterday and set a price target of C$6.50. The company’s shares closed last Monday at $3.75.
According to TipRanks.com, Baretto is a 4-star analyst with an average return of 8.4% and a 51.8% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Hecla Mining Company, Pan American Silver, and Hudbay Minerals.
Currently, the analyst consensus on Fortuna Silver Mines is a Strong Buy with an average price target of $4.68, representing a 24.1% upside. In a report issued on February 14, BMO Capital also maintained a Buy rating on the stock with a C$6.75 price target.
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Based on Fortuna Silver Mines’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.71 million. In comparison, last year the company had a net profit of $2.23 million.
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Fortuna Silver Mines, Inc. engages in the exploration, extraction and processing of precious and base metal in Latin America. It operates through the following segments: Bateas, Cuzcatlan, Mansfield, and Corporate. The Beates segment operates the Caylloma silver, lead, and zinc mine. The Cuzcatlan segment handles the San Jose silver-gold mine.
