Fortuna Silver Mines (NYSE:FSM) Cut to “Sector Underperform” at CIBC

CIBC cut shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a neutral rating to a sector underperform rating in a research note released on Tuesday morning, MarketBeat reports.

Separately, Scotiabank reduced their price objective on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.00.

Fortuna Silver Mines Stock Up 4.7 %

Shares of NYSE FSM opened at $4.83 on Tuesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 60.32 and a beta of 1.56. The company has a 50-day moving average price of $4.64 and a 200-day moving average price of $4.71. Fortuna Silver Mines has a 1 year low of $2.63 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Fortuna Silver Mines during the third quarter valued at about $1,347,000. Van ECK Associates Corp lifted its position in shares of Fortuna Silver Mines by 2.6% during the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock valued at $141,511,000 after purchasing an additional 788,703 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Fortuna Silver Mines by 616.1% during the third quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company’s stock valued at $1,231,000 after purchasing an additional 218,100 shares in the last quarter. Barclays PLC bought a new position in shares of Fortuna Silver Mines during the third quarter valued at about $2,227,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Fortuna Silver Mines during the third quarter valued at about $1,765,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

Fortuna Mining Corp. 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.