Fortuna Silver Mines (NYSE:FSM) Lowered to “Sell” at Zacks Investment Research

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, February 5th.

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. “

FSM has been the topic of a number of other reports. BMO Capital Markets initiated coverage on shares of Fortuna Silver Mines in a report on Friday, November 17th. They issued an “outperform” rating on the stock. Raymond James Financial cut shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.75.

Fortuna Silver Mines (NYSE FSM) traded down $0.10 during trading on Monday, reaching $4.73. 210,724 shares of the company’s stock were exchanged, compared to its average volume of 1,065,825. Fortuna Silver Mines has a 12 month low of $4.03 and a 12 month high of $6.55. The firm has a market cap of $771.05, a price-to-earnings ratio of 19.32 and a beta of 0.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.45 and a current ratio of 4.77.

A number of institutional investors have recently added to or reduced their stakes in FSM. Ingalls & Snyder LLC grew its stake in Fortuna Silver Mines by 98.1% during the fourth quarter. Ingalls & Snyder LLC now owns 2,995,200 shares of the basic materials company’s stock worth $15,635,000 after buying an additional 1,483,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Fortuna Silver Mines by 65.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,575,939 shares of the basic materials company’s stock worth $13,446,000 after purchasing an additional 1,019,487 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of Fortuna Silver Mines by 6.4% during the fourth quarter. Global X Management Co. LLC now owns 2,153,966 shares of the basic materials company’s stock worth $11,277,000 after purchasing an additional 129,101 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its position in shares of Fortuna Silver Mines by 8.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,024,865 shares of the basic materials company’s stock worth $8,840,000 after purchasing an additional 152,793 shares in the last quarter. Finally, TD Asset Management Inc. lifted its position in shares of Fortuna Silver Mines by 64.8% during the third quarter. TD Asset Management Inc. now owns 1,827,749 shares of the basic materials company’s stock worth $7,980,000 after purchasing an additional 718,800 shares in the last quarter. Hedge funds and other institutional investors own 43.85% of the company’s stock.

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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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