CIBC Remains a Hold on Fortuna Silver Mines (FSM)

By Austin Angelo

CIBC analyst Cosmos Chiu maintained a Hold rating on Fortuna Silver Mines (FSMResearch Report) today and set a price target of C$4.00. The company’s shares closed last Thursday at $2.64.

According to TipRanks.com, Chiu is a 5-star analyst with an average return of 12.1% and a 53.9% success rate. Chiu covers the NA sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Hecla Mining Company.

Fortuna Silver Mines has an analyst consensus of Moderate Buy, with a price target consensus of $3.66, which is a 43.5% upside from current levels. In a report issued on April 14, PI Financial also maintained a Hold rating on the stock with a C$4.40 price target.

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Based on Fortuna Silver Mines’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $68.98 million and net profit of $18.98 million. In comparison, last year the company earned revenue of $59.59 million and 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. The Mansfield segment is the development of the Lindero Gold project. The Corporate segment represents the corporate stewardship. The company was founded by Jorge A. Ganoza Durant, Simon T. P. Ridgway and Mario David Szotlender on September 4, 1990 and is headquartered in Vancouver, Canada.