Fortuna Silver Mines (NYSE:FSM) Shares Gap Down - Time to Sell?

Shares of Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI gapped down prior to trading on Monday . The stock had previously closed at $4.78, but opened at $4.57. Fortuna Silver Mines shares last traded at $4.53, with a volume of 1,328,276 shares.

Analyst Upgrades and Downgrades

Separately, Scotiabank boosted their price target on Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Monday, August 19th.

Fortuna Silver Mines Trading Down 7.5 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51. The company has a market cap of $1.38 billion, a P/E ratio of 59.76 and a beta of 1.58. The business has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $4.94.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new stake in shares of Fortuna Silver Mines during the 3rd quarter valued at $29,000. Banque Cantonale Vaudoise purchased a new position in Fortuna Silver Mines in the 2nd quarter worth about $36,000. Perritt Capital Management Inc. boosted its holdings in shares of Fortuna Silver Mines by 40.0% in the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company's stock worth $39,000 after buying an additional 3,000 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Fortuna Silver Mines during the third quarter valued at approximately $50,000. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines in the 2nd quarter valued at approximately $54,000. Institutional investors and hedge funds own 33.80% of the company's stock.

About Fortuna Silver Mines

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.

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