Fortuna Silver Mines Inc. (FSM) saw a big move in the last trading session, as the company’s shares fell nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent uptrend for FSM, as the stock is up over 29% in the past one-month time frame.
The company, engaged in the exploration, extraction, and processing of silver and gold properties, has seen 1 positive estimate revision over the past month, though the current year earnings consensus hasn’t been in a trend. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.
FSM currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the Basic Materials sector may consider better-ranked stocks like Agnico Eagle Mines Limited (AEM), Compass Minerals International Inc. (CMP) and Universal Stainless & Alloy Products Inc. (USAP), each of which holds a Zacks Rank #1 (Strong Buy).
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