Fortuna Silver Mines (NYSE:FSM) Downgraded to “Sector Underperform” Rating by CIBC

CIBC downgraded shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a neutral rating to a sector underperform rating in a research note released on Tuesday, Marketbeat Ratings reports.

Separately, Scotiabank lowered their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Fortuna Silver Mines Stock Performance

Shares of FSM stock opened at $4.83 on Tuesday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 60.32 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. Fortuna Silver Mines has a 52 week low of $2.63 and a 52 week high of $6.36. The firm’s 50-day simple moving average is $4.64 and its two-hundred day simple moving average is $4.71.

Institutional Trading of Fortuna Silver Mines

Several hedge funds have recently added to or reduced their stakes in FSM. Van ECK Associates Corp raised its position in shares of 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 purchasing an additional 788,703 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fortuna Silver Mines by 10.5% in 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 purchasing an additional 796,364 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Fortuna Silver Mines by 17.1% in 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 purchasing an additional 1,219,864 shares during the period. Tidal Investments LLC raised its position in shares of Fortuna Silver Mines by 40.3% in 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 purchasing an additional 2,165,430 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Fortuna Silver Mines by 15.3% in 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. 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.