Fortuna Silver Mines (FSM) Downgraded to “Hold” at Zacks Investment Research

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 9th.

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. “

Several other research analysts also recently commented on the company. Raymond James Financial downgraded Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, November 21st. Scotiabank reduced their price objective on Fortuna Silver Mines from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Friday, October 6th. Finally, BMO Capital Markets began coverage on Fortuna Silver Mines in a research note on Friday, November 17th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $6.75.

Fortuna Silver Mines (NYSE:FSM) traded up $0.05 during trading on Tuesday, reaching $4.88. The company’s stock had a trading volume of 888,053 shares, compared to its average volume of 880,468. Fortuna Silver Mines has a 1-year low of $4.03 and a 1-year high of $6.91. The stock has a market cap of $771.05, a price-to-earnings ratio of 20.33 and a beta of 0.12. The company has a current ratio of 4.77, a quick ratio of 4.45 and a debt-to-equity ratio of 0.08.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, November 8th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Fortuna Silver Mines had a return on equity of 9.15% and a net margin of 15.44%. sell-side analysts forecast that Fortuna Silver Mines will post 0.31 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Ninepoint Partners LP acquired a new stake in shares of Fortuna Silver Mines during the 3rd quarter worth about $949,000. TD Asset Management Inc. boosted its holdings in Fortuna Silver Mines by 64.8% during the 3rd quarter. TD Asset Management Inc. now owns 1,827,749 shares of the basic materials company’s stock valued at $7,980,000 after acquiring an additional 718,800 shares during the period. Global X MANAGEMENT CO LLC boosted its holdings in Fortuna Silver Mines by 8.2% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,024,865 shares of the basic materials company’s stock valued at $8,840,000 after acquiring an additional 152,793 shares during the period. Commerzbank Aktiengesellschaft FI boosted its holdings in Fortuna Silver Mines by 287.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 128,634 shares of the basic materials company’s stock valued at $563,000 after acquiring an additional 95,475 shares during the period. Finally, Ingalls & Snyder LLC boosted its holdings in Fortuna Silver Mines by 184.0% during the 3rd quarter. Ingalls & Snyder LLC now owns 1,512,200 shares of the basic materials company’s stock valued at $6,623,000 after acquiring an additional 979,800 shares during the period. 42.17% of the stock is owned by hedge funds and other institutional investors.

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About Fortuna Silver Mines

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

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