Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was downgraded by equities researchers at Raymond James Financial, Inc. from a “strong-buy” rating to an “outperform” rating in a research note issued to investors on Tuesday.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity initiated coverage on Fortuna Silver Mines in a research report on Thursday, September 7th. They set a “buy” rating on the stock. Zacks Investment Research upgraded Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets initiated coverage on Fortuna Silver Mines in a research report on Friday. They set an “outperform” rating on the stock. Scotiabank lowered their price target on Fortuna Silver Mines from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Friday, October 6th. Finally, BidaskClub cut Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $6.75.

Shares of Fortuna Silver Mines (FSM) traded up $0.07 during mid-day trading on Tuesday, hitting $4.34. The stock had a trading volume of 748,700 shares, compared to its average volume of 1,567,343. Fortuna Silver Mines has a one year low of $4.03 and a one year high of $6.92. The firm has a market cap of $681.65, a PE ratio of 15.25 and a beta of 0.17. The company has a current ratio of 4.77, a quick ratio of 4.45 and a debt-to-equity ratio of 0.08.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Sprott Inc. grew its holdings in shares of Fortuna Silver Mines by 59.6% in the 4th quarter. Sprott Inc. now owns 3,825,205 shares of the basic materials company’s stock worth $8,607,000 after acquiring an additional 1,427,985 shares during the last quarter. Russell Frank Co acquired a new position in shares of Fortuna Silver Mines in the 4th quarter worth $1,030,000. Van ECK Associates Corp grew its holdings in shares of Fortuna Silver Mines by 22.1% in the 1st quarter. Van ECK Associates Corp now owns 31,669,037 shares of the basic materials company’s stock worth $164,640,000 after acquiring an additional 5,729,585 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Fortuna Silver Mines in the 2nd quarter worth $5,797,000. Finally, Cipher Capital LP grew its holdings in shares of Fortuna Silver Mines by 28.9% in the 2nd quarter. Cipher Capital LP now owns 306,562 shares of the basic materials company’s stock worth $1,499,000 after acquiring an additional 68,774 shares during the last quarter. Institutional investors and hedge funds own 40.58% of the company’s stock.

Fortuna Silver Mines Company Profile

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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