Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
Separately, TheStreet upgraded shares of Fortuna Silver Mines from a “c+” rating to a “b” rating in a research note on Wednesday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $5.88.
Shares of NYSE:FSM opened at $5.19 on Thursday. Fortuna Silver Mines has a 52 week low of $4.03 and a 52 week high of $5.58. The company has a market capitalization of $839.69, a price-to-earnings ratio of 16.74 and a beta of -0.05. The company has a current ratio of 4.50, a quick ratio of 4.20 and a debt-to-equity ratio of 0.07.
Large investors have recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC increased its stake in shares of Fortuna Silver Mines by 123.7% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 26,040 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 14,400 shares during the period. Cypress Wealth Services LLC acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $200,000. Highstreet Asset Management Inc. increased its stake in shares of Fortuna Silver Mines by 135.9% in the fourth quarter. Highstreet Asset Management Inc. now owns 38,964 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 22,446 shares during the period. Scotia Capital Inc. increased its stake in shares of Fortuna Silver Mines by 29.4% in the fourth quarter. Scotia Capital Inc. now owns 61,385 shares of the basic materials company’s stock valued at $320,000 after purchasing an additional 13,956 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $344,000. Institutional investors own 43.67% of the company’s stock.
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About Fortuna Silver Mines
Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico, as well as develops the Lindero gold project situated in northwestern Argentina.
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