Fortuna Silver Mines (NYSE:FSM) Stock Rating Lowered by Cibc World Mkts

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

A number of other brokerages have also recently weighed in on FSM. CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday. Scotiabank reduced their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th. Two equities research 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 MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.00.

Fortuna Silver Mines Stock Down 8.1 %

Shares of FSM opened at $4.74 on Tuesday. Fortuna Silver Mines has a fifty-two week low of $2.63 and a fifty-two week high of $6.36. The company’s fifty day moving average is $4.65 and its two-hundred day moving average is $4.70. The firm has a market cap of $1.45 billion, a PE ratio of 59.19 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.

Hedge Funds Weigh In On Fortuna Silver Mines

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

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.