FSM - Why This Under $10 Silver Stock Jumped 15.3% in May
Shares of Canada-based silver mining company Fortuna Silver Mines (NYSE: FSM) surged 15.3% in the month of May, according to data provided by S&P Global Market Intelligence .
Remarkably, the silver stock slumped nearly 22% in just the last week of April after announcing an acquisition, making its reversal in May even more pronounced. Not only did value investors see an opportunity after the stock's price drop, but stellar numbers from Fortuna Silver in May and management's comments about the impending acquisition and how the price of silver could soar by the end of this year added fuel to the fire.
Fortuna Silver earned $26.4 million in net income in the first quarter -- its highest-ever quarterly profit. Backing that growth was a 148% jump in sales as higher volumes across all of its mines complemented higher prices for both silver and gold.
For further details see:
Why This Under $10 Silver Stock Jumped 15.3% in May