Fortuna Silver Mines (NYSE:FSM) Trading Down 6.5% – Time to Sell?

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

Analysts Set New Price Targets

FSM has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday.

Fortuna Silver Mines Trading Down 8.1 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The firm has a market capitalization of $1.45 billion, a P/E ratio of 59.19 and a beta of 1.56. The firm has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $4.70.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in Fortuna Silver Mines by 40.3% in the 4th quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company’s stock valued at $32,359,000 after buying an additional 2,165,430 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Fortuna Silver Mines by 1,558.0% in the fourth quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company’s stock valued at $8,326,000 after acquiring an additional 1,823,695 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of 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. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Fortuna Silver Mines by 63.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company’s stock valued at $9,305,000 after acquiring an additional 845,900 shares during the last quarter. Finally, Man Group plc lifted its holdings in Fortuna Silver Mines by 127.3% during the fourth quarter. Man Group plc now owns 1,485,494 shares of the basic materials company’s stock worth $6,373,000 after acquiring an additional 831,994 shares during the period. 33.80% of the stock is owned by 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.