Fortuna Silver Mines (NYSE:FSM) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

A number of other research firms have also recently commented on FSM. ValuEngine cut shares of Fortuna Silver Mines from a hold rating to a sell rating in a research report on Thursday, August 15th. Canaccord Genuity cut shares of Fortuna Silver Mines from a buy rating to a hold rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Fortuna Silver Mines has an average rating of Hold and an average target price of $4.50.

NYSE FSM opened at $3.92 on Wednesday. The company’s fifty day simple moving average is $3.66 and its 200-day simple moving average is $3.31. Fortuna Silver Mines has a 52 week low of $2.39 and a 52 week high of $4.74. The company has a current ratio of 1.66, a quick ratio of 1.47 and a debt-to-equity ratio of 0.13. The stock has a market cap of $596.28 million, a P/E ratio of 16.33 and a beta of 0.35.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ruffer LLP bought a new stake in shares of Fortuna Silver Mines in the first quarter worth $1,822,000. GWM Advisors LLC lifted its holdings in Fortuna Silver Mines by 25.6% in the 1st quarter. GWM Advisors LLC now owns 129,160 shares of the basic materials company’s stock valued at $433,000 after acquiring an additional 26,360 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Fortuna Silver Mines in the 4th quarter valued at about $183,000. Toronto Dominion Bank lifted its holdings in Fortuna Silver Mines by 32.1% in the 1st quarter. Toronto Dominion Bank now owns 101,574 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 24,662 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Fortuna Silver Mines in the 1st quarter valued at about $126,000. 36.19% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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