Fortuna Silver Mines (NYSE:FSM) Stock Rating Lowered by Zacks Investment Research

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

FSM has been the subject of a number of other reports. BMO Capital Markets upped their price objective on Fortuna Silver Mines from $8.25 to $11.25 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Pi Financial upgraded Fortuna Silver Mines from a “neutral” rating to a “buy” rating in a research note on Friday, August 28th. Laurentian Bank of Canada restated a “buy” rating and set a $11.35 price objective on shares of Fortuna Silver Mines in a research note on Tuesday, August 18th. National Bank Financial restated a “hold” rating and set a $10.50 price objective on shares of Fortuna Silver Mines in a research note on Thursday, July 23rd. Finally, Laurentian restated a “buy” rating and set a $11.35 price objective on shares of Fortuna Silver Mines in a research note on Tuesday, August 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Fortuna Silver Mines has an average rating of “Buy” and a consensus price target of $8.97.

Shares of FSM stock opened at $7.77 on Tuesday. Fortuna Silver Mines has a twelve month low of $1.47 and a twelve month high of $7.91. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 777.78 and a beta of 1.32. The stock has a fifty day simple moving average of $6.74 and a two-hundred day simple moving average of $4.47. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Thursday, August 13th. The basic materials company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $44.48 million during the quarter. Fortuna Silver Mines had a return on equity of 0.86% and a net margin of 0.50%. Research analysts predict that Fortuna Silver Mines will post 0.1 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in FSM. BlackRock Inc. increased its holdings in shares of Fortuna Silver Mines by 237.1% in the first quarter. BlackRock Inc. now owns 26,102 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 18,359 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Fortuna Silver Mines by 40.1% in the first quarter. Russell Investments Group Ltd. now owns 31,276 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 8,948 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Fortuna Silver Mines by 41.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,785 shares of the basic materials company’s stock valued at $73,000 after purchasing an additional 9,300 shares during the period. Swiss National Bank increased its holdings in shares of Fortuna Silver Mines by 1.4% in the first quarter. Swiss National Bank now owns 312,000 shares of the basic materials company’s stock valued at $706,000 after purchasing an additional 4,400 shares during the period. Finally, ETF Managers Group LLC increased its holdings in shares of Fortuna Silver Mines by 19.3% in the first quarter. ETF Managers Group LLC now owns 768,164 shares of the basic materials company’s stock valued at $1,738,000 after purchasing an additional 124,335 shares during the period. 37.85% of the stock is currently owned by institutional investors and hedge funds.

About Fortuna Silver Mines

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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