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

Cibc World Mkts downgraded shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

FSM has been the subject of a number of other reports. Scotiabank dropped their target price 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. CIBC downgraded Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Fortuna Silver Mines presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Fortuna Silver Mines Stock Performance

Shares of 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 52-week low of $2.63 and a 52-week high of $6.36. The company has a 50-day simple moving average of $4.65 and a 200-day simple moving average of $4.70. The company has a market capitalization of $1.45 billion, a PE ratio of 59.19 and a beta of 1.56.

Hedge Funds Weigh In On Fortuna Silver Mines

Several hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Fortuna Silver Mines by 71.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 651,688 shares of the basic materials company’s stock valued at $2,796,000 after purchasing an additional 272,547 shares in the last quarter. Vanguard Capital Wealth Advisors acquired a new position in Fortuna Silver Mines in the 4th quarter valued at $67,000. Vident Advisory LLC lifted its stake in shares of Fortuna Silver Mines by 11.0% during the 4th quarter. Vident Advisory LLC now owns 186,703 shares of the basic materials company’s stock worth $801,000 after purchasing an additional 18,523 shares during the period. Tidal Investments LLC boosted its holdings in shares of Fortuna Silver Mines by 40.3% during the fourth quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company’s stock worth $32,359,000 after purchasing an additional 2,165,430 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at $97,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

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.