StockNews.com Downgrades Fortuna Silver Mines (NYSE:FSM) to Hold

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Other equities analysts have also recently issued reports about the company. Scotiabank increased their target price on Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a “sector perform” rating in a report on Monday, April 8th. TheStreet cut Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th.

Fortuna Silver Mines Trading Down 0.8 %

Shares of FSM opened at $4.55 on Monday. Fortuna Silver Mines has a 1 year low of $2.58 and a 1 year high of $4.94. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $3.45 and a 200-day simple moving average of $3.40. The stock has a market cap of $1.39 billion, a PE ratio of -28.41 and a beta of 1.63.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. The company had revenue of $265.31 million during the quarter. On average, sell-side analysts predict that Fortuna Silver Mines will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Silver Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Fortuna Silver Mines by 7.9% in the 4th quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company’s stock valued at $125,050,000 after buying an additional 2,361,636 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fortuna Silver Mines by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,566,641 shares of the basic materials company’s stock worth $29,266,000 after purchasing an additional 146,303 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fortuna Silver Mines by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,002,409 shares of the basic materials company’s stock worth $19,309,000 after purchasing an additional 553,722 shares during the last quarter. Euro Pacific Asset Management LLC boosted its position in shares of Fortuna Silver Mines by 2.2% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 4,579,271 shares of the basic materials company’s stock worth $12,460,000 after purchasing an additional 100,307 shares during the last quarter. Finally, Ruffer LLP boosted its position in shares of Fortuna Silver Mines by 59.0% in the 3rd quarter. Ruffer LLP now owns 3,368,940 shares of the basic materials company’s stock worth $9,206,000 after purchasing an additional 1,250,000 shares during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc 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.