CIBC Downgrades Fortuna Silver Mines (NYSE:FSM) to Sector Underperform

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by investment analysts at CIBC from a “neutral” rating to a “sector underperform” rating in a report released on Tuesday,Briefing.com Automated Import reports.

Separately, Scotiabank dropped their price target on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th.

Fortuna Silver Mines Stock Performance

Shares of NYSE FSM traded down $0.37 during mid-day trading on Tuesday, reaching $4.79. 5,201,897 shares of the company were exchanged, compared to its average volume of 12,334,570. Fortuna Silver Mines has a twelve month low of $2.63 and a twelve month high of $6.36. The stock has a market capitalization of $1.47 billion, a P/E ratio of 59.69 and a beta of 1.56. The company’s 50-day simple moving average is $4.66 and its 200-day simple moving average is $4.70. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Institutional Trading of Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Fortuna Silver Mines by 10.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 2,000 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Fortuna Silver Mines by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 2,440 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Fortuna Silver Mines by 19.6% during the third quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 5,240 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Fortuna Silver Mines by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after buying an additional 5,858 shares during the period. Finally, Optiver Holding B.V. acquired a new stake in Fortuna Silver Mines during the 4th quarter valued at approximately $26,000. Institutional investors own 33.80% of the company’s stock.

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.