Fortuna Silver Mines (NYSE:FSM) Shares Down 6.5% - Here's What Happened

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on FSM. CIBC downgraded Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research report on Tuesday. Scotiabank reduced their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 15th. Finally, Cibc World Mkts lowered Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Fortuna Silver Mines presently has an average rating of "Hold" and an average target price of $6.00.

Fortuna Silver Mines Stock Down 8.4 %

The firm has a fifty day moving average of $4.64 and a 200-day moving average of $4.70. The firm has a market cap of $1.36 billion, a P/E ratio of 55.32 and a beta of 1.56. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. bought a new position in shares of Fortuna Silver Mines in the 4th quarter valued at about $26,000. Financial Management Professionals Inc. bought a new position in shares of Fortuna Silver Mines in the 3rd quarter valued at about $29,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Fortuna Silver Mines in the 4th quarter valued at $34,000. SeaCrest Wealth Management LLC bought a new stake in Fortuna Silver Mines in the 4th quarter valued at $45,000. Finally, Bank of Nova Scotia bought a new stake in Fortuna Silver Mines in the 4th quarter valued at $46,000. 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.