Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

FSM has been the topic of several other reports. Zacks Investment Research downgraded Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, April 11th. ValuEngine downgraded Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. National Bank Financial reissued an “outperform” rating on shares of Fortuna Silver Mines in a report on Monday, May 15th. Finally, Scotiabank reissued a “sector perform” rating and issued a $9.00 price target on shares of Fortuna Silver Mines in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $8.94.

Shares of Fortuna Silver Mines (NYSE:FSM) traded down 1.79% on Friday, hitting $4.38. The stock had a trading volume of 1,480,359 shares. The company has a market cap of $697.40 million, a price-to-earnings ratio of 22.81 and a beta of 0.27. Fortuna Silver Mines has a one year low of $4.11 and a one year high of $9.57. The firm’s 50-day moving average is $4.83 and its 200-day moving average is $5.20.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Monday, May 15th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by $0.01. Fortuna Silver Mines had a net margin of 12.88% and a return on equity of 9.58%. The company had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $59 million. The company’s quarterly revenue was up 56.5% on a year-over-year basis. On average, analysts expect that Fortuna Silver Mines will post $0.29 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of FSM. Van ECK Associates Corp boosted its stake in Fortuna Silver Mines by 22.1% in the first quarter. Van ECK Associates Corp now owns 31,669,037 shares of the basic materials company’s stock valued at $164,640,000 after buying an additional 5,729,585 shares in the last quarter. Sprott Inc. boosted its stake in Fortuna Silver Mines by 79.8% in the second quarter. Sprott Inc. now owns 1,832,300 shares of the basic materials company’s stock valued at $8,960,000 after buying an additional 813,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Fortuna Silver Mines by 404.2% in the first quarter. Tower Research Capital LLC TRC now owns 29,748 shares of the basic materials company’s stock valued at $155,000 after buying an additional 23,848 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Fortuna Silver Mines during the fourth quarter valued at approximately $223,000. Finally, Capital Fund Management S.A. acquired a new stake in Fortuna Silver Mines during the first quarter valued at approximately $258,000. 50.44% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Fortuna Silver Mines (NYSE:FSM)

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