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

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by CIBC from a “neutral” rating to a “sector underperform” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports.

Separately, 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.

Fortuna Silver Mines Stock Performance

Shares of FSM stock traded down $0.37 during trading hours on Tuesday, hitting $4.79. 5,201,897 shares of the company were exchanged, compared to its average volume of 12,334,570. Fortuna Silver Mines has a 52-week low of $2.63 and a 52-week high of $6.36. 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 firm has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $4.70. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 59.69 and a beta of 1.56.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FSM. Private Advisor Group LLC bought a new stake in shares of Fortuna Silver Mines during the 3rd quarter valued at $50,000. Financial Management Professionals Inc. bought a new stake in shares of Fortuna Silver Mines during the third quarter valued at about $29,000. Sicart Associates LLC purchased a new stake in shares of Fortuna Silver Mines in the third quarter worth about $3,171,000. Van ECK Associates Corp boosted 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 acquiring an additional 788,703 shares during the period. Finally, Versor Investments LP boosted its position in shares of Fortuna Silver Mines by 36.9% in the third quarter. Versor Investments LP now owns 106,400 shares of the basic materials company’s stock valued at $495,000 after acquiring an additional 28,700 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

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.