Fortuna Silver Mines (FSM) Stock Rating Lowered by Zacks Investment Research

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets restated a “buy” rating on shares of Fortuna Silver Mines in a research note on Monday, December 17th. TheStreet downgraded shares of Fortuna Silver Mines from a “b” rating to a “c+” rating in a research note on Tuesday, October 16th. Finally, ValuEngine upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $6.25.

Shares of NYSE:FSM traded down $0.03 during trading on Wednesday, hitting $3.77. The company’s stock had a trading volume of 591,900 shares, compared to its average volume of 768,573. The company has a market cap of $610.97 million, a price-to-earnings ratio of 12.16 and a beta of 0.35. The company has a quick ratio of 4.04, a current ratio of 4.43 and a debt-to-equity ratio of 0.07. Fortuna Silver Mines has a fifty-two week low of $3.16 and a fifty-two week high of $6.08.

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC acquired a new position in shares of Fortuna Silver Mines during the fourth quarter worth $183,000. ARP Americas LP acquired a new position in shares of Fortuna Silver Mines during the fourth quarter worth $69,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Fortuna Silver Mines by 32.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,867,342 shares of the basic materials company’s stock worth $10,497,000 after purchasing an additional 698,716 shares in the last quarter. U S Global Investors Inc. grew its stake in shares of Fortuna Silver Mines by 38.4% during the fourth quarter. U S Global Investors Inc. now owns 127,262 shares of the basic materials company’s stock worth $463,000 after purchasing an additional 35,282 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Fortuna Silver Mines by 0.8% during the fourth quarter. CIBC Asset Management Inc now owns 370,987 shares of the basic materials company’s stock worth $1,359,000 after purchasing an additional 2,908 shares in the last quarter. Hedge funds and other institutional investors own 44.08% of the company’s stock.

About Fortuna Silver Mines

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. It explores for silver, gold, lead, and zinc deposits. The company holds interests in the Caylloma mine located in southern Peru; and the San Jose mine situated in the state of Oaxaca in southern Mexico.

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