Fortuna Silver Mines (NYSE:FSM) Trading Down 6.5% – Should You Sell?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares dropped 6.5% on Tuesday . The stock traded as low as $4.82 and last traded at $4.82. Approximately 2,317,304 shares changed hands during trading, a decline of 81% from the average daily volume of 12,260,748 shares. The stock had previously closed at $5.15.

Analyst Ratings Changes

FSM has been the subject of a number of analyst reports. Scotiabank lowered 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 research note on Wednesday, January 15th. CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday.

Fortuna Silver Mines Price Performance

The stock has a market capitalization of $1.45 billion, a P/E ratio of 59.19 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The business has a fifty day simple moving average of $4.65 and a 200-day simple moving average of $4.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in Fortuna Silver Mines by 2.6% in the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock valued at $141,511,000 after purchasing an additional 788,703 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Fortuna Silver Mines by 10.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,402,119 shares of the basic materials company’s stock valued at $36,043,000 after buying an additional 796,364 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Fortuna Silver Mines by 17.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company’s stock valued at $35,779,000 after buying an additional 1,219,864 shares in the last quarter. Tidal Investments LLC raised its stake in Fortuna Silver Mines by 40.3% during the 4th quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company’s stock worth $32,359,000 after buying an additional 2,165,430 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Fortuna Silver Mines by 15.3% in the fourth quarter. American Century Companies Inc. now owns 5,038,830 shares of the basic materials company’s stock worth $21,625,000 after acquiring an additional 668,590 shares in the last quarter. 33.80% of the stock is owned by institutional investors.

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.