Fortuna Silver Mines (NYSE:FSM) Rating Lowered to Strong Sell at Cibc World Mkts

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

A number of other equities research analysts have also issued reports on the stock. CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday. Scotiabank dropped 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. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.00.

Fortuna Silver Mines Price Performance

Fortuna Silver Mines stock opened at $4.61 on Tuesday. Fortuna Silver Mines has a 52-week low of $2.63 and a 52-week high of $6.36. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 57.57 and a beta of 1.56. The company has a fifty day simple moving average of $4.64 and a 200-day simple moving average of $4.70. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of hedge funds have recently modified their holdings of FSM. Tidal Investments LLC grew its holdings 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. 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 purchasing an additional 1,823,695 shares during the period. D. E. Shaw & Co. Inc. grew its holdings 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. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 worth $9,305,000 after buying an additional 845,900 shares during the period. Finally, Man Group plc boosted its stake 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 buying an additional 831,994 shares during the period. Hedge funds and other 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.