Fortuna Silver Mines (NYSE:FSM) Cut to Sector Underperform at CIBC

CIBC downgraded shares of Fortuna Silver Mines (NYSE:FSM - Free Report) TSE: FVI from a neutral rating to a sector underperform rating in a research report released on Tuesday morning, MarketBeat.com reports.

Separately, Scotiabank dropped 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 report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.00.

Fortuna Silver Mines Stock Performance

Shares of Fortuna Silver Mines stock traded down $0.41 on Tuesday, reaching $4.43. 13,513,811 shares of the stock were exchanged, compared to its average volume of 13,051,373. The business has a 50 day moving average price of $4.64 and a two-hundred day moving average price of $4.70. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 55.32 and a beta of 1.56. Fortuna Silver Mines has a twelve month low of $2.63 and a twelve month high of $6.36. 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 Trading of Fortuna Silver Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Optiver Holding B.V. purchased a new stake in Fortuna Silver Mines in the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new position in shares of Fortuna Silver Mines in the 3rd quarter valued at $29,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Fortuna Silver Mines during the fourth quarter worth $34,000. SeaCrest Wealth Management LLC acquired a new stake in Fortuna Silver Mines during the fourth quarter valued at $45,000. Finally, Bank of Nova Scotia acquired a new stake in Fortuna Silver Mines during the fourth quarter valued at $46,000. 33.80% of the stock is owned by institutional investors and hedge funds.

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.