Fortuna Silver Mines (NYSE:FSM) Downgraded to “Strong Sell” Rating by Cibc World Mkts

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by stock analysts at Cibc World Mkts from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday. Scotiabank decreased their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Fortuna Silver Mines has an average rating of “Hold” and an average price target of $6.00.

Fortuna Silver Mines Stock Down 8.1 %

FSM stock opened at $4.74 on Tuesday. Fortuna Silver Mines has a 1-year low of $2.63 and a 1-year high of $6.36. The business has a fifty day moving average price of $4.65 and a 200-day moving average price of $4.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The stock has a market capitalization of $1.45 billion, a P/E ratio of 59.19 and a beta of 1.56.

Institutional Trading of Fortuna Silver Mines

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in Fortuna Silver Mines by 2.6% during the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock valued at $141,511,000 after acquiring an additional 788,703 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Fortuna Silver Mines by 10.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,402,119 shares of the basic materials company’s stock valued at $36,043,000 after acquiring an additional 796,364 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Fortuna Silver Mines by 17.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company’s stock valued at $35,779,000 after acquiring an additional 1,219,864 shares during the last quarter. Tidal Investments LLC increased its position in Fortuna Silver Mines by 40.3% during the fourth quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company’s stock valued at $32,359,000 after acquiring an additional 2,165,430 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Fortuna Silver Mines by 15.3% during the fourth quarter. American Century Companies Inc. now owns 5,038,830 shares of the basic materials company’s stock valued at $21,625,000 after purchasing an additional 668,590 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Mining Corp. engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d’Ivoire.