StockNews.com Downgrades Fortuna Silver Mines (NYSE:FSM) to Hold

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

FSM has been the subject of several other research reports. TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a research note on Thursday, March 7th. Scotiabank raised their target price on Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a “sector perform” rating in a research report on Monday, April 8th.

Fortuna Silver Mines Stock Performance

Fortuna Silver Mines stock traded down $0.03 during mid-day trading on Monday, reaching $4.59. 6,722,738 shares of the company’s stock were exchanged, compared to its average volume of 5,684,444. The firm has a market capitalization of $1.40 billion, a PE ratio of -28.66 and a beta of 1.63. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $3.43 and its 200 day simple moving average is $3.38. Fortuna Silver Mines has a one year low of $2.58 and a one year high of $4.94.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. The company had revenue of $265.31 million during the quarter. On average, sell-side analysts expect that Fortuna Silver Mines will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FSM. Van ECK Associates Corp raised its stake in Fortuna Silver Mines by 7.9% in the fourth quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company’s stock valued at $125,050,000 after purchasing an additional 2,361,636 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Fortuna Silver Mines by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,566,641 shares of the basic materials company’s stock worth $29,266,000 after buying an additional 146,303 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Fortuna Silver Mines by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,002,409 shares of the basic materials company’s stock worth $19,309,000 after purchasing an additional 553,722 shares during the period. Euro Pacific Asset Management LLC lifted its stake in Fortuna Silver Mines by 2.2% in the third quarter. Euro Pacific Asset Management LLC now owns 4,579,271 shares of the basic materials company’s stock worth $12,460,000 after purchasing an additional 100,307 shares during the last quarter. Finally, Ruffer LLP boosted its position in Fortuna Silver Mines by 59.0% during the third quarter. Ruffer LLP now owns 3,368,940 shares of the basic materials company’s stock valued at $9,206,000 after buying an additional 1,250,000 shares during the period. Institutional investors own 33.80% of the company’s stock.

About Fortuna Silver Mines

Fortuna Silver Mines Inc 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.