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

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

Several other equities research analysts have also weighed in on FSM. 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. CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday. Two 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. Based on data from MarketBeat, Fortuna Silver Mines currently has a consensus rating of “Hold” and an average price target of $6.00.

Fortuna Silver Mines Trading Down 8.1 %

NYSE FSM opened at $4.74 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines has a twelve month low of $2.63 and a twelve month high of $6.36. The firm has a market capitalization of $1.45 billion, a PE ratio of 59.19 and a beta of 1.56. The stock’s 50 day moving average is $4.65 and its 200 day moving average is $4.70.

Institutional Investors Weigh In On Fortuna Silver Mines

Several hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its holdings in Fortuna Silver Mines by 10.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 2,000 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Fortuna Silver Mines by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 2,440 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Fortuna Silver Mines by 19.6% in the third quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 5,240 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Fortuna Silver Mines by 4.3% in the third quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after acquiring an additional 5,858 shares in the last quarter. Finally, Optiver Holding B.V. bought a new stake in Fortuna Silver Mines in the fourth quarter worth $26,000. 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.