Fortuna Silver Mines (NYSE:FSM) Stock Rating Lowered by 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, 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. “

Other equities analysts also recently issued research reports about the company. Laurentian reiterated a “buy” rating and issued a $11.35 price objective on shares of Fortuna Silver Mines in a report on Tuesday, August 18th. CIBC raised their price target on Fortuna Silver Mines from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, August 17th. BMO Capital Markets raised their price target on Fortuna Silver Mines from $8.25 to $11.25 and gave the company an “outperform” rating in a report on Monday, August 17th. Pi Financial upgraded Fortuna Silver Mines from a “neutral” rating to a “buy” rating in a report on Friday, August 28th. Finally, Laurentian Bank of Canada restated a “buy” rating and set a $11.35 price target on shares of Fortuna Silver Mines in a report on Tuesday, August 18th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $8.97.

FSM opened at $7.77 on Tuesday. The stock has a fifty day simple moving average of $6.74 and a two-hundred day simple moving average of $4.47. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 777.78 and a beta of 1.32. Fortuna Silver Mines has a 12-month low of $1.47 and a 12-month high of $7.91.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $44.48 million during the quarter. Fortuna Silver Mines had a return on equity of 0.86% and a net margin of 0.50%. On average, analysts predict that Fortuna Silver Mines will post 0.1 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC lifted its position in shares of Fortuna Silver Mines by 110.1% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,354 shares of the basic materials company’s stock valued at $27,000 after buying an additional 2,806 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Fortuna Silver Mines by 11.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 34,949 shares of the basic materials company’s stock valued at $177,000 after buying an additional 3,626 shares in the last quarter. Swiss National Bank lifted its position in shares of Fortuna Silver Mines by 1.4% during the 1st quarter. Swiss National Bank now owns 312,000 shares of the basic materials company’s stock valued at $706,000 after buying an additional 4,400 shares in the last quarter. Profund Advisors LLC lifted its position in shares of Fortuna Silver Mines by 28.6% during the 2nd quarter. Profund Advisors LLC now owns 20,541 shares of the basic materials company’s stock valued at $105,000 after buying an additional 4,571 shares in the last quarter. Finally, Quilter Plc lifted its position in shares of Fortuna Silver Mines by 13.6% during the 2nd quarter. Quilter Plc now owns 51,057 shares of the basic materials company’s stock valued at $260,000 after buying an additional 6,132 shares in the last quarter. 37.85% of the stock is currently owned by institutional investors and hedge funds.

About Fortuna Silver Mines

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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