Fortuna Silver Mines (NYSE:FSM) Shares Down 6.5% – Should You Sell?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price fell 6.5% during mid-day trading on Tuesday . The company traded as low as $4.82 and last traded at $4.82. 2,317,304 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 12,260,748 shares. The stock had previously closed at $5.15.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FSM shares. CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday. Scotiabank dropped their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th. Finally, Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.00.

Fortuna Silver Mines Trading Up 4.7 %

The stock has a market capitalization of $1.48 billion, a P/E ratio of 60.32 and a beta of 1.56. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $4.64 and its two-hundred day simple moving average is $4.70.

Institutional Investors Weigh In On Fortuna Silver Mines

Several large investors have recently made changes to their positions in FSM. Private Advisor Group LLC acquired a new position in Fortuna Silver Mines during the third quarter valued at approximately $50,000. Financial Management Professionals Inc. bought a new stake in Fortuna Silver Mines during the third quarter worth about $29,000. Sicart Associates LLC acquired a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $3,171,000. Van ECK Associates Corp grew its position in Fortuna Silver Mines by 2.6% in 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. Finally, Versor Investments LP increased its position in Fortuna Silver Mines by 36.9% during the 3rd quarter. Versor Investments LP now owns 106,400 shares of the basic materials company’s stock worth $495,000 after purchasing an additional 28,700 shares in the last quarter. 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.