Cibc World Mkts Downgrades Fortuna Silver Mines (TSE:FVI) to Strong Sell

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) was downgraded by stock analysts at Cibc World Mkts from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, CIBC downgraded shares of Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from C$8.00 to C$7.00 in a report on Tuesday.

Fortuna Silver Mines Trading Down 8.3 %

Shares of Fortuna Silver Mines stock opened at C$6.70 on Tuesday. The company has a fifty day moving average of C$6.69 and a 200 day moving average of C$6.57. Fortuna Silver Mines has a fifty-two week low of C$3.57 and a fifty-two week high of C$8.68. The company has a market capitalization of C$1.48 billion, a P/E ratio of 59.47 and a beta of 1.63. The company has a debt-to-equity ratio of 13.30, a quick ratio of 1.15 and a current ratio of 1.94.

About Fortuna Silver Mines

Fortuna Silver Mines Inc is engaged in precious and base metal mining and related activities in Argentina, Burkina Faso, Mexico, Peru, and Cote d’Ivoire. The company operates the open pit Lindero gold mine in northern Argentina, the underground Yaramoko mine in southwestern Burkina Faso, the underground San Jose silver and gold mine in southern Mexico, the underground Caylloma silver, lead, and zinc mine in southern Peru, and is developing the open pit Seguela gold mine in southwestern Cote d’Ivoire.